Mix all ingredients together in a bowl. Allow to sit for 5-10 minutes to release all of the flavors into the oil before using. Ideally you want to let it sit for more than 2 hours, if time allows.
You can also throw all the ingredients except for the olive oil in food processor and puree. Then slowly add olive oil until combined.
Notes
If you like some heat, you can control it by keeping some of the seeds from the jalapeño pepper.
Use quality olive oil as part of the taste comes from it.
While store-bought bottles can be quite convenient, they lack in flavor compared to the real thing. It really isn’t that much extra work to freshly squeeze the lime and you’ll notice a difference in flavor.
The longer you let it sit, the better. I like to make mine a couple hours ahead of time for whatever meal I'm using it for.