My oil light comes on, occasion when I am stopping or stoped in stop and go traffic, could it be that my oil pump has failed and therefore my engine is about to? I have a 2.7 Liter with about 36,500 miles on it.
My '99, 2.7, 112k did the same thing. After replacing the pvc valve, oil pressure sensor, I replaced the Fram filter and that solved the problem. Filter always seemed to leak and I could never tighten it enough to stop.
I took mine to the dealer last week for this (as well as for the recall on seat bolts)... it was the oil pressure sender...apparently when the oil heat up it leaks from the sending unit giving false readings to ecm... they have to replace the unit...$75 for diagnostic( just to make sure it isn't something else) $30 for p&l. I wouldn't worry as long as you maintain your engine regularly.