Oil level and oil pressure are different. You don't need to have full oil to get normal pressure.
In general high pressure indicates good weather and low pressure indicates storms.
Usually the pressure gauge on your pool equipment indicates how much pressure there is before the filter. as the pressure goes up it indicates that the filter is getting blocked and needs a backwash or cleaning. while the pressure is low the filter does not need cleaning.
it needs a tune up
That light notifies you that one of the gauges is out of its normal parameter. Check the temp (overheating), the voltage (not charging) and the oil pressure gauge (low or no oil pressure).
In general high pressure indicates good weather and low pressure indicates storms.
It displays the pressure that the oil pump is creating. Generally low oil pressure indicates that the main and/or rod bearings are worn. Many people misunderstand and think that the gauge is an indication of the conditon of the oil pump, but the simple reality is, oil pumps seldom fail and seldom wear enough to significantly lower the oil pressure. The oil pressure gauge is NOT a way to determine when you're low on oil. If that's your method, you're destroying the engine.
It is normal for the pressure to drop. It depends what you mean by "very low". Check the oil level and the condition of the oil and filter. The oil and filter may need changing.
The dipstick reads full to low, generally 1 qt difference. The engine can run with normal oil pressure 1 qt low. Anything below that is asking for trouble.
look at the gauge
Defective gauge, defective oil pressure sending unit, low of oil, defective oil pump.
1999 Chevy table oil pressure gauge low and check gauges flickering
If check gauges is lit and the oil press gauge is low, you have low oil pressure or a failed oil pressure sending unit.If check gauges is lit and the oil press gauge is low, you have low oil pressure or a failed oil pressure sending unit.