Heat olive oil in a small saucepan over medium-high heat; add shallots, and sauté 3 to 5 minutes or until tender. Stir in apricot preserves and next 3 ingredients. Reduce heat to low, and cook 5 to 6 minutes or until thoroughly heated. Brush glaze over chicken. Place chicken on a lightly greased rack in an aluminum foil-lined roasting pan.
Bake at 350° for 15 minutes.