The oil light comes on when the oil pressure sensor detects low oil pressure. The amount of oil has little to with it, although very low oil levels can cause loss of oil pressure. The best thing to do is to have the engine's oil pressure checked with a mechanical oil pressure gauge to ensure that the oil pressure is sufficient at all operating speed and temperatures. If the oil light is still flashing on and off and there is no indication of low oil pressure by the gauge, then replacement of the oil pressure sensor is recommended.
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