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E30 - Oil pressure light



My oil pressure light (the oil can, red light, on the far right) started
flashing yesterday. Checked the oil level and it looked perfect.
It only seems to flash when I'm decelerating at a slow speed. Goes out
when I'm accelerating or cruising on the highway.
I've owned this car about 7 months and the light has never flashed
before. Anybody ever experienced this before?

TIA

Rob
86 325e 140K miles