HEAT oven to 350 degrees F. Spray 8-inch square baking pan with no-stick cooking spray.
BEAT butter and brown sugar in medium bowl until smooth and fluffy. Beat in extract. Mix in flour, baking powder and oats until mixture is crumbly. Reserve 1/2-cup for topping. Pat remaining crumbs into bottom of prepared pan.
SPOON preserves evenly over crumb crust in pan. Sprinkle with reserved crumb topping.
BAKE 30 to 40 minutes or until lightly browned. Cool on wire rack. Cut into bars.