Heat vegetable oil in a medium saucepan over medium heat until shimmering, about 1-2 minutes.
Add chopped onion, jalapeno, chipotle pepper, diced green chiles, and minced garlic to the saucepan. Cook until softened, about 5 minutes, stirring frequently.
Add the remaining ingredients and stir to combine. Increase heat to medium-high and bring to a gentle boil.
Once the sauce is boiling, stir well and turn heat to medium-low. Simmer for 5 minutes.
Transfer sauce to a blender and blend until smooth, about 30 seconds.
Use ranchero sauce in your favorite Mexican dishes, like our Chicken Burritos Ranchero, or store for later use.