My 93 850 gave me a check oil level light today! I was shocked as I am fanatical about oil. I checked and it was maybe down a half quart on the dip stick. I bought a quart at a local stop and go and put in half! Light went out! I am curious how sensitive that check oil light is?? It did freak me out as I thought I might be leaking some, then realized it was not the oil pressure idiot light (been there and done that on 240s that had a rod knock - and on a 740 that I replaced an oil pump!)

I assume this was no cause for alarm - car has gone about 1800 miles before I needed to add this half quart! Just gave me a bad feeling while driving- LOL

Bob Weber
Hamilton, Ohio 45013
59 Volvos since 1979

As you found out, the lamp is for oil level, not pressure. The lamp was famous for coming on all the time, at the same time scaring drivers into thinking they had a serious problem. Some owners were known to immediately pull over to the side of the road and shut the engine off, citing low pressure and/or level. Volvo took note of this annoying lamp and got rid of it after '93.
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'82 240DL Stock / Masters Class, '94 850 Fully Loaded / Daily Driver, CVC / VCOA Member http://www.capcan.com/tonyg.htm

Which beat the heck out of the old VW beetle oil light. It came on AFTER all of the oil was gone (along with the rings and bearings).
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98 V70Rawd(101Kmi), 95 854T(85K mi), 88 245(165K mi)

or the mini, fitted with audible warnign device (loud bang as the engine grenaded...)