Oldsmobile cutlass supreme 1996 Owner's Manual page 114

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When the ignition is on but the engine is not running,
the light will come on as a test to show you it is
working, but the light will go out when you turn the
ignition to START. If it doesn't come on with the
ignition on, you may have a problem with the fuse or
bulb. Have it fixed right away.
If you make a hard stop, the light may come on for a
moment. This is normal.
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<CAUTION:
The oil light could also come on in two other situations:
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Don't keep driving if the oil pressure is low. If
you do, your engine can become so hot that it
catches fire. You or others could be burned.
Check your oil as soon as possible and have your
vehicle serviced.
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NOTICE:
Damage to your engine from neglected oil
problems can be costly and is not covered by
your warranty.