A flashing oil light can be warning you of an oil pressure problem. The quantity of oil can be fine but the oil pressure may be low due to other problems.
this happened to me just before my battery died.
Warning for Change oil schedule or Low oil pressure. Check also the Oil sensor malfunction.
usually low oil
it means get some oil You may also want to refer to another post about the 'oil warning light' coming on after several hours of driving... this is likely caused by a faulty or leaking LOW pressure sensor. This will need to be replaced ... the beeping and flashing light can be annoying.
It means, that you have to refill oil and cooling water.
Tip: The oil light flashing indicates that the pressureof the oil is low, the light does not necessarily indicates when the oil level is low. The problem could be a bad oil pump or a leak in the filter.
bring it in for servicing
automatic transmission oil temperature warning light
A yellow flashing engine light is an indication that the engine should be checked. The yellow flashing light can because by low water level or low motor oil.
If the oil pressure warning light came on, it may mean that you have an oil leak. It can also mean that the sensor is bad.
Engine Warning Light