Heat 2 tablespoons extra virgin olive oil in a large pan over medium heat.
Once the oil is hot, add onions, garlic, oregano, and ½ teaspoon salt and cook for 5-7 minutes, until the onions are softened and lightly browned, stirring occasionally.
Stir in ½ cup of dry red wine and cook until it is nearly evaporated (2-3 minutes).
Add the remaining ½ cup of wine and cook until it is reduced by at least half and leaves a trail when a spatula is pulled through it (6-8 minutes). Stir frequently while cooking.
Stir in tomatoes, honey, bouillon powder, and red pepper flakes, and bring the sauce to a simmer.
Cook for 10-12 minutes until the sauce is thickened, stirring frequently.
Stir in the remaining 1 tablespoon of extra virgin olive oil, ½ teaspoon salt, black pepper, and basil, and mix well.
Check for salt and pepper and add more if needed. Remove the pan from the heat and use the sauce as desired.