In a medium saucepan, combine the ketchup, apple cider vinegar, Worcestershire sauce, molasses, light brown sugar, yellow mustard, garlic powder, onion powder, smoked paprika, chili powder, kosher salt, and black pepper.
Bring the mixture to a simmer over medium heat and cook, stirring occasionally, for 10 minutes.
Remove the pan from the heat and let cool.
Store the barbecue sauce in an airtight container in the refrigerator for up to 2 weeks.