Preheat the oven to 350°F. If you plan to remove the whole cake from the pan, line the pan with parchment paper and spray it with non-stick spray. If you are planning to leave the cake in the pan, just spray it with non-stick spray.
In a large bowl, whisk together the flour, baking powder, and baking soda. Set aside.
Using a handheld or stand mixer, fitted with a paddle attachment, beat the butter until it is smooth and creamy.
Beat in the oil, then gradually add in the sugar and beat until smooth.
Mix in the vanilla extract and then add the eggs one at a time, mixing between each one.
Then gradually mix in the strawberry reduction and sour cream. Do not overbeat the mixture.
Add the flour mixture and beat just until combined.
Pour the batter into the prepared baking pan and bake the cake for 25 to 30 minutes or until a toothpick inserted comes out clean.
Place the pan on a cooling rack and allow it to cool completely before frosting.