X2, there is an oil level sensor in the oil pan. The light is telling you the level is low. Could be a faulty sensor, or possible bad connection at the sensor, or the oil level might be low, check the dip stick level.
98 Riviera SC3800 All stock except gutted air box.
1970 Buick GS455 Stage1, TSP built 470BBB, 602HP/589TQ
Best MPH, 116.06 MPH, Best ET, 11.54