Ok, well so here is the story... I think its normal for the car, when idleing really low, to flicker the oil/o2 sensor lights. its done that since I have had the car. Just when it idles below 1k. But the past 3 days have been different. If the RPMs arn't above 2.5k they will flicker light mad.

I really dont know what could be the issue, I haven't done anything to the car, or touched anything. Just been driving it... Fluids are all fine too, bit I will dbl. check the fluids again.

What could be the problem?

Usually when the oil light starts to filcker the oil pump is dieing. The pressure releaf valve starts to get stuck partialy open causing the pressure to be low at idle. I don't know why your O2 sensor light is flashing though.

ok, update on the problem... It doesn't flicker anymore, it just stays lit the oil light AND the O2 sensor (they have always flashed and stuff at the same time). Anyway, unless I go above 3500k it says lit, UNLESS my car is very warm, like if I have driven it for 30+min... I dont know whats up with it, It just started doing it recently. All my fluids are fine.. No leaks. Im open to suggestion.

What oil filter are you using? If it isn't the Mahle one, the pressure might be having issues because of that too (but I doubt it). See the post above about the oil pump.

As for the lights, if they flash/flicker at the EXACT same time, then someone wired the O2 light to the Oil Pressure light, so that it would come on at start-up as the O2 light SHOULD, but then goes out. If it doesn't do that, it will fail most smog tests. It seems that there is a HUGE secret as to how to reset the O2 light. It will stay on all the time after a set interval (2 years I believe) IF it hasn't been reset. The button to reset it is hidden under the car, search for an old thread on this (Matte21 answered this for me).

so it could be a filter? it was fine when I changed the filter... It ran good, and just in the past week its been like this... Its odd.. I dunno what brand mine is, but I got it at GI Joes (which is an automotive car place). I know a while back when I first got the car (with help from my moms OLD friend), anyway. The o2 light stayed on all the time, and he did something to disable it, but its come on with the oil light every time. He did a lot of stuff that I didnt even know about, he THOUGHT he knew what he was doing, ive had to replace some of the things he screwed up on.. grr

my oil/O2 sensor comes on when i start the car in the morning but it goes off in less teh 20 secs. when i bought the car the o2 sensor was rotten and the light stayed on at all times, ive since replaced it. now like how doug said it will come on when the oil light comes on in the morning. i figured that the oil light comes on after teh car sits all night and has no oil in the top end. so are they wired together?

In the 1980 and later E21 320i's to get the O2 light reset just unplug it with the key on. With the older cars there was a reset button hidden somewhere.

In the 1980 and later E21 320i's to get the O2 light reset just unplug it with the key on. With the older cars there was a reset button hidden somewhere.

where do I unplug it?

where do I unplug it?

You still know the answer to that one??

Anyway, I really need to get this fixed. I doubt its good to run the car with the lights flickering... So is the Mahle oil filter white? I grabbed a filter at GI Joes which is an autostore/sports store... So I dunno what brand it is. Its just white.

just a thought...check that your alternator is putting out enough juice. I had a similar problem on my audi with warning lights on all the time and then eventually my alternator died. when I replaced it, no warning lights anymore

You still know the answer to that one??
The only place you can unplug it, the connector on the lower part of the strut tower on the passenger side.

roccocase just a thought...check that your alternator is putting out enough juice. I had a similar problem on my audi with warning lights on all the time and then eventually my alternator died. when I replaced it, no warning lights anymore

Yeah, it may not be a bad idea to check your voltage while the car is running. If you alternator turns out to be bad it would be a wise idea to put poly bushing in the new one before you install it.