I believe the best bait is live bait caught out of the river. Get yourself a bait bucket, ultra light tackle (light line and a size 22 hook), and a can of maggots. The primary bait in the Allegheny we call blue dots or riffle runners. Sand Pike are also present and good. Get in the shallows, stir up the bottom with your feet, and use the ultra light tackle in the dirt cloud. Once you catch some bait, fish it on a split shot rig. Catching bait can be time consuming but it will catch walleye. If you can find a place to store your bait in the river or feeder creek, it takes some of the work out of it. You can also trap bait if you have a trap and place to set it.
I do best in deeper runs, especially with holes and large rocks present. Target anything deeper than surrounding area, and get your bait right behind the large rocks. The walleye sit in the eddy created by the obstruction.
There are numerous areas between Oil City and Franklin. Two of the best are right where Oil Creek enters the river and drops into main river channel. This is accesible by wading if conditions are right. The other is a shore spot just below Reno, on the Route 8 side, at the rapids there. A large eddy is present and it can be fished from shore.
Hope this helps and best of luck.