I have checked the dip stick and there is sufficient oil in my car, but the oil light is blinking when I idle. Does any one have any idea what maybe the problem? I hope it's not the oil pump.

Might be a problem with the filter or a sensor problem. Don't mess with that one too long, get someone to look at it right away.

Might be a problem with the filter or a sensor problem. Don't mess with that one too long, get someone to look at it right away.

LIKE DONT DRIVE THE CAR AT ALL! I suspect that you may have a serious issue with oil pressure if you have that type of warning. It is not to be trifled with!!!

red or yellow oil light?

It's the red oil light blinking.

it means that some parts of your motor aren't getting oil in a timely fashion, IMO (possibly near the scensors)

I'm going to take it to the dealer Monday morning. I figured that with oil pump costing $450, I should walk out with a $1000 bill.

we didnt say all that, take it to a good indy shop

Have you washed the motor lately? Open the hood, find the oil filter housing and pull the plug on the sensor, blow on it, and try it again. I've had the same thing happen in my M5 and 740iL, both from washing the motor and using a bit too much water.....learned my lesson after I freaked out like all the other posters above me did ;) Oil pump bolts are a common problem on the V8's, but I don't know if it's the same for the I6's