Mix the turmeric and water together in a sauce pan. Heat until it boils. Once it boils, turn the heat to the lowest setting possible. You should have a thick consistency. If not, cook on low until you do.
Add the oil and mix until combined and let cool down.
Add fresh cracked and grounded pepper (Optional but very beneficial). You may add one additional teaspoon if you don't mind the pepper taste. Mix.
Store in a glass container in the refrigerator for up to two weeks or freeze in small batches if it will take you longer than two weeks to consume.