In a large Dutch oven over medium heat, melt 3 tablespoons unsalted butter and 2 teaspoons vegetable oil together. Add 3 large sweet onions about 2 pounds5 and cook for 15 minutes, stirring occasionally, until softened.
Stir in ¾ teaspoon kosher salt and ¼ teaspoon black pepper. Place the lid askew on the pot and continue to cook for an additional 45-50 minutes, stirring occasionally until they onions are caramelized. Moderate the heat if the onions are browning too quickly.
Add 1 cup white wine and simmer until most of the liquid has evaporated, about 10-15 minutes. Tie 8 sprigs thyme with a kitchen string into a tight bundle. Add the thyme, 2 bay leaves and 4 cups Beef Bone Broth. Simmer for 15 minutes.
Meanwhile, preheat the oven to 400°. Slice 1 baguette into ½" thick rounds and place on a baking sheet. Bake the bread for about 4-5 minutes, then flip the slices and cook for an additional 3-4 minutes, until crisp and lightly browned. Lightly rub 1 garlic clove over one side of the toasts (don't go overboard–the toasted bread acts like a microplane against a garlic clove).
Turn up the oven to broil.
Remove the thyme and bay leaves and discard. Add a teaspoon of sherry to each of 4 ovenproof crocks or bowls. Ladle the soup into the bowls and place on a baking sheet. Rest 1-2 toasts on top of each bowl of soup, depending on size (garlic side up), and divide 4 ounces Gruyère cheese over the bowls.
Broil for 2-5 minutes until the cheese is melty and the edges of the bread are crisp. Serve.
Notes
You can make and freeze caramelized onions ahead of time..
Store the soup base (without bread and cheese) in an airtight container in the fridge for up to 4 days.
Reheat the soup base on the stovetop or in the microwave until hot, then ladle into oven-safe crocks, top with freshly toasted bread and cheese, and broil as directed.
Don't reheat leftovers that already have the bread and cheese on — the bread turns soggy, and the cheese doesn't melt the same way twice.
You can freeze the onion soup base for up to 3 months in a freezer-safe container.
Thaw before reheating, then assemble the soup with bread and cheese before broiling.