The oil light flickers on and off all the time now for the last 3 days and any rpm but I have no engine noise that would indicate low oil pressure

The flickering light usually indicates low oil pressure particularly at idle.Check oil quantity. How long since serviced and filter replaced. If these all good have your oil pressure tested with a master gauge. Some issues can be oil pickup slugged up or if high miler engine bearings.

No if the oil light has flickered you have oil pressure loss some time just belive the sensor do help us out. lifter do not cause oil pressure loss pressure is built in the rotation of the crankshaft. The knock under the plenum will point you to that cylinder that is affected, (main bearing) as for a 1995 the injectors can only cause a misfire but no knocking noise,will they honor the warranty

READ THIS (happy ending so far...):
audi a4 2L turbo quattro, manual transmission with 98,000 KM. Perfect conditions, no oil leaks whatsoever.

Left the car off for two weeks in very cold weather (-10C down to -25C). When I restarted, it started immediately but with heavy rattling noise due to camshaft adjuster not getting enough oil pressure. After 3 minutes of warming up (outside temp.: -12C) at very low rpm (below 2,000rpm), I start moving the car. Still hearing heavy rattle noise. As soon as I pass 2,000 rpm, I get a scary red warning, low oil pressure. Turn off the engine immediately. In 1 minute, I re-start the car and the engine lights check ok, so I drive in first gear super slow (1,200rpm) hearing the same rattling noise. After another minute, finally the noise all the sudden disappears and the car starts running just fine.

Called Audi dealer and they told me that in extreme weather conditions, I should warm the engine for 10-15 minutes if necessary before start moving.
Take away: luckily, I didn't screw up the engine since I was using it at extremely low rpm (easy to do with clutch and manual transmission) until the oil reached full pressure. I am pretty sure now that the problem was leaving the car off for such a long time in freezing weather. All the oil flows back to the bottom, and when I restarted it, the cold oil with high viscosity took a long time to reach all the parts of the engine, specially the camshaft adjusters that are actuated by using oil pressure. Next day, the car started at -9C perfectly without making any noise (as usual). Basically, the longer you leave your audi in cold weather, the longer you might hear the rattling noise until the oil reach full pressure inside the engine. My car took 6 minutes to fix it after couple of weeks in cold weather. This makes sense to me; in fact, in the past I only heard the rattling noise after leaving the car off for a couple of days in the winter.
So far, this has had an happy ending....

The oil light began to flicker beacuse of low oil pressure with the lower RPM I expect. Four things for your engine to run: 1, Spark, 2, fuel 3, compression and lastly the timing.
While running at higher RPM how well (or poorly) does the engine run?
This may be as simple as a clogging fuel filter, low pressure = poor fuel stream which = poor performance.
May be the fuel pump failing too.
Other ideas; starved for air, very dirty air filter?
Also corld be crank, cam or MFA sensor too. Sart easy with the fuel filter and work from there.

If I may be of additional help, please let me know.
Tom

That sounds like you bought big problems. Oil ights indicate low oil pressure= BIG BUCKS. I would have a qualified repair shop check it out, A shop that specializes in BMW. If you are lucky, maybe the oil sender is just bad. They can also check out the Ck eng light. But the oil light is priority one.

Have you checked the oil level. If the level is good, then get the oil pressure checked by a mechanic.

Worn oil pump or cam brgs. Noticed the oil change, what about the oil filter?The oil filter has a bypass in it that will allow unfiltered oil to get past the oil filter if it plugs up. What is your mileage now and how was your maintenance habits? Good Luck. Remember, your cam brgs are the first point of resistance that control your oil pressure, not your rods or mains

Sounds like there is an oil pressure problem. Now this can be due to several factors. 1. low oil level in car
2. bad oil pump
3.bad oil pressure switch /sending unit
4. last but not least check oil filter and make sure its not clogged.
worn engine main/connecting rod bearings.
have pressure checked with a manual guage at oil pressure switch for the correct pressure. If that's good then the switch is bad and problem solved.
if it low then you will have to check pump and bearings. Contact if you need more help and thanks for using FIX YA

is it low on oil? if so it could be an internal oil leak (wouldn't be able to see) or external but you didn't say anything about that... if level is good replave the oil pressure sensor

have u noticed any blue smoke on start up or while driving if so possibly piston rings