Heat the olive oil in a saucepan over medium heat.
Add the diced onion and jalapeños, cooking until softened, about 5 minutes.
Stir in the minced garlic and cook for another minute until fragrant.
Pour in the diced tomatoes and chicken broth, then season with cumin, oregano, and paprika.
Bring the mixture to a simmer and let cook for 15 minutes, allowing the flavors to meld together.
Remove from heat and stir in the chopped cilantro and lime juice.
Use an immersion blender to blend the sauce directly in the pan until smooth. Alternatively, carefully transfer to a blender and purée until smooth.
Serve the sauce warm, or allow it to cool and store in an airtight container in the refrigerator for up to a week.