Alarm is indicating no oil pressure, it's reading on display screen 10psi to zero psi.
SOURCE: Oil pressure reading low
Many things can attribute to the oil pressure being reduced. The sending unit can not functioin properly due to build up of varnish & sludge on the inside of the switch. Worn bearings, allowing too much oil to pass without any restriction, or less restriction, can cause lower oil pressure.
Most vehicles will have a low pressure at or near idle when warm and 35 pounds shouldn't be a major concern.
35 pounds when accelerating & at higher RPM's, is too low and I would suggest that if you can, you go ahead yourself and just replace the Oil Pressure Sending Unit. I say this, as it's less expensive to replace it than to get a mechanic to test it & if you cure your problem, you're done. If not, you're out the expense of that switch and a few minutes of labor, you'll have to judge the value for yourself.
You didn't mention your mileage, or any history regarding oil changes, there is a valve that allows the oil to by-pass the filter, those can get stuck partially open & cause lower pressure (seldom happens thought), if the engine oil is old and hasn't been replaced on schedule, a few oil changes with just regular oil for about 2,000 miles instead of 3,000 will help to clean it up.
There is also an Oil Pressure Switch but that is for the trouble light, not the gauge. If you don't have an engine light flickering or coming on, evidently this switch is reading sufficient pressure not to alert you. Remember, many cars only use this switch & never see the pressure.
I'm also considering that it's winter & you have 5W-30W oil, it is extremely thin, you could move up to a 10W-30 as soon as it gets a little warmer out. If this is due to high mileage & just normal wear.
good luck
SOURCE: 1991 Olds Cutlass with a 3.1 engine will not start
Most likely it's a fuel pump relay. It's on the panel under the hood.
SOURCE: low oil pressure indicator at low rpms (idle) '97 olds V8
Thicker oil is all you need. 5w30 is too thin when it warms up and the sensor cant pick up the flow going past. 10w40 should stop all the issues
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