My idiot "oil light" on the dashboard came on twice for few seconds. Shutting off the engine and restarting removes the warning light. It's the red one with an oil canister. But no OBC message. Oil level at max according the Dashboard LCD and close to max according the dipstick. No leaks. Oil pressure close to 5 when cold idle, around and 1.5-2 idle and 3 at 3000 rpm at operating temp (5 mile drive) at 85 F outside.
Indie wanted me to stop driving it, told me it's at least $125 ("depending on what type oil sensor, there are many different types") + ca. 2h labor if it is only the oil pressure sensor. Most likely much more.
I am parking at a steep incline at my garages entrance, is this a possible cause?
Any input is welcome.

 

Most likely your oil pressure sensor is failing (very common). There's only one type and it's about $70 for the part. Labor to replace should be like 20min or less, definitely not 2hr. Did the oil pressure gauge drop to zero when the light came ON?

 

No, the pressure gauge operates as usual. However, my when my wife was driving it she observed that the gauge goes closer to 5, never saw it dropping to zero.

 

Ok, there are actually two diff warning symbols very close to each other (both show an oil can). You need to check the owner manual. One is for oil pressure and the other for oil level. Will need to check which one popped up.

If it's the oil level sensor, it's a lot of work to replace since it's deep in the middle of the engine. Maybe that's what the indie meant by which type.

 

It's the round "engine oil pressure warning" light, that sits between break wear and battery warning light.

 

I see. Then it should be the oil pressure sensor. Sometimes the oil can shows up on the OBC (as dot matrix icon) but you said no OBC msgs so I assume no icons pop up on the OBD either? My previous comment was for the OBC display.

 

No, nothing on the LED display, just the round light. If that's any information, I also checked with an OBD reader, found no fault codes.

 

There are no generic oil related OBDII codes anyway (OBDII was designed for emission control). You need a Porsche scanner such as Durametric to retrieve the related error codes.