Preheat oven to 200°C. Grease and lightly flour a spring form pan (ca. 26cm diameter).
In a pot, warm the milk and then remove from heat. Dissolve the yeast into the lukewarm milk, and leave until frothy. Mix together the flour and salt, and create a well in the middle. Add the butter, egg yolk, sugar and oil into the well and pour the yeasted milk on top. Combine everything and knead until a smooth dough forms. Cover and leave in a warm place for 30 minutes.
In the meantime wash the apricots, remove the stones, and cut into quarters. Cook the apricot quarters with the sugar and water. Mix the cornstarch with two tablespoons of water until smooth, and then add to the cooking apricots. Continue cooking for another 5-10 minutes, or until the apricots are soft. Remove from the heat and allow to cool.
Knead the dough again and roll it out on a lightly floured surface. Carefully place the dough into the prepared spring form pan and lightly press it down. Create a 1cm high edge with the dough. Poke holes into the bottom with a fork. Pour the cooled apricots into the spring form and spread evenly.
To create the streusel: Slice the cold butter into pieces. Add the flour and sugar and work into a streusel. Sprinkle the streusel on top of the apricot layer. Bake the cake for ca. 20 minutes in the preheated oven, remove from the oven and allow to cool.
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