In salted boiling water, cook ravioli according to directions on the package. Drain well.
Heat the oil and butter in a non-stick pan over medium heat. Sauté the shallots and garlic until softened, about 2-3 minutes. Stir in the cream, bring to a simmer. Add in the sage and season with salt and pepper.
Simmer until the cream reduces to a thick smooth consistency (sauce should coat the back of a spoon). Once the sauce is smooth remove from heat and stir in the lemon zest. Taste and adjust any seasonings.
Spoon the sauce over the ravioli, garnish with sage.