Preheat your oven to 500F and place red pepper in the oven until charred, about 10-15 minutes, depending on your oven.
Once the pepper is charred, place in a covered container for 5 minutes so the skins loosen. Peel the skin and remove the seeds - you can rinse it lightly.
Place charred pepper, along with all the other ingredients except the oil, in the food processor or blender. Blend and drizzle oil in slowly, for at least 5 minutes.
Taste and season with salt and pepper. Store in an airtight jar for up to two weeks!