In a saucepan, combine apricot preserves, ketchup, apple cider vinegar, brown sugar, Worcestershire sauce, Dijon mustard, minced garlic, onion powder, smoked paprika, black pepper, and a pinch of salt.
Thoroughly blend the mixture to incorporate all the ingredients.
Place the saucepan on medium heat and let the mixture gently simmer.
Reduce the heat to low and let the sauce simmer for about 10-15 minutes, stirring occasionally, until it thickens and the flavors meld together.
If you prefer a smoother consistency, carefully transfer the sauce to a blender and blend until smooth.
Remove the saucepan from the heat and let the sauce cool before transferring it to a glass jar or airtight container.