hey I have been haveing this problem for a little while now and was wondering if anyone had seen it in the past. It happens when I have been driveing slowly (teaching a friend to drive) or ater being on the freeway for a while. One I sat with if at an idle for 15mins and it would only flash when I was pressing the brakes, but it has not done that again any ideas? Thanks

Oh yeah it's a 94' 940 turbo wagon

 

Could be a couple of things ross, for starters I would check the wire going to the oil pressure sending unit. The connectiongets moisture and corrosion on it and will cause an erratic light like you're describing. If the connection is clean and your sure your oil level is good, then I would get the oil pressure checked with a gauge to make sure your pump isn't going bad. If your pressure is good then it's probably time for a new sending unit, but be sure to get the pressure checked just to be 100% sure.