Gotcha, maybe I’ll see about topping it up. This only recently started, so it could be eitherDo you mean the low oil level light?
If so my 2002 E46 with the M54 engine did just that on one occasion, although the dip-stick was one notch above minimum. I topped it up anyway and the light never came on again. I never considered a sensor problem but it wouldn't have mattered as I always monitored the level regularly - it did use a bit after reaching over 90K miles!
Mine comes on sometimes when I stop and the car beeps at me. After my service it stopped but it is at it again even though the oil is at it's highest point on the dipstick.