In a large saucepan, add the oil and saut? the shallot and Serrano pepper over medium-high heat for 3 to 4 minutes. Add in the blood orange juice, agave syrup, cranberries, chipotle, adobo, cinnamon, and salt. Reduce the heat and simmer until mixture is thick, 20 to 25 minutes, stirring occasionally. Set aside to thicken, thanks to the pectin in the cranberries.