Heat the oil in a large skillet over medium heat. Add the onions and a generous pinch of salt and pepper. Cover and cook, stirring occasionally, until the onions are soft, 10 to 15 minutes.
Increase the heat to high, add the red wine and simmer until most of the wine is absorbed into the onions. Add the honey and vinegar and simmer gently, lowering the heat as needed and stirring occasionally, until the onions are soft, sticky and jam-like, about, about 15 minutes.
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