This may not come as a surprise, but if the red light looks like an actual oil bottle or an old-fashioned oil lamp, it means your oil pressure (engine pressure) is too low. If you continue to drive your car while it is low on oil, the engine could seize or stop working.
Pull over immediately and take a look at the oil dipstick to see if it needs to be topped off. Make sure not to touch the engine compartment.
What If There's Another Red Light?
Your BMW dashboard does contain other red caution lights that can come on for one reason or another when you crank your vehicle; however, your owner's manual should inform you on the meaning of every light that might light up on your dash.
