The oil pressure is too low. It can be dirty oil filter, not enough oil in the engine and failing oil pump. I would start with engine oil level.
Faulty sending unit.
It could be your oil sending unit has gone bad.
oil pressure sending unit could need replacing, or you could have low oil level. I recently had to replace my sending unit after putting too much lucas oil stabilizer in.
Yes, if the oil pressure sending unit is bad the oil light may come on.
The oil light is blinking due to lack of pressure. You may need to replace the oil pressure sending unit, and/or the oil pump.
Defective oil sending unit, blown bulb.
I would say that it is probably a 2nd or 3rd grade level of reading.
Why in the world would you want to do this? If the sending unit is defective then replace it. If the light is on you either have low oil pressure of the sending unit is bad. Low oil pressure will ruin your engine.
Find out why it is on. The oil light being on may indicate low oil pressure. It may be nothing more than a bad oil pressure sending unit, but it may be more serious. You need to know why it is on. Check your oil level, and if it is full, I would look at the oil pressure sending unit and see if it is connected or leaking. If all looks good seek professional help.
Your oil pressure sending unit is bad or the oil pump is bad. I would check the sending unit first
I would immediately check the oil level. If you find that it is not low of oil, immediately replace the filter with a new name brand filter. AC/Delco would be my choice in this vehicle. If that does not help, replace the oil pressure sending unit.