The oil light measures oil pressure not the oil level. In short the sending unit can go bad and the light can come on especially during hot idle. It could also be low oil pressure due to a worn pump or worn bearings. The only sure way to know is to temporarily plumb in a gauge and check the pressure.
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Bill Strobel
Owner Independent Towing
1965 GTO Nightwatch Blue/Aqua
2005 GTO Quick Silver/Red
Fayetteville, NC
Do It Right or Don't Do It All
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