Chevrolet 2001 Camaro Owner's Manual page 151

Readings in the red area tell you that the engine is low
on oil, or that you might have some other oil problem.
See "Engine Oil" in the Index.
CAUTION:
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.
NOTICE:
Damage to your engine from neglected oil
problems can be costly and is not covered by
your warranty.
Low Oil Light
If the light stays on after starting your engine, your
engine oil level may be too low. You may need to add
oil. See "Engine Oil" in the Index.
NOTICE:
The oil level monitoring system only checks the
oil level when you are starting your engine.
It does not keep monitoring the level once the
engine is running. Also, the oil level check only
works when the engine has been turned off long
enough for the oil to drain back into the oil pan.
This warning light should
come on briefly while you
are starting your engine. If
the light doesn't come on,
have it repaired.
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