Low oil pressure would generally indicate a fairly major problem... However, if you have a gauge, I've notice that the pressure sending unit sometimes wears out.
Here's the deal. When I start it and it is in park I rev the engine and the oil pressure goes up as it should. Then when I put it in drive it slowly drops to the L I mean all the way to the L.
I would start by unscrewing the oil pressure sending unit and screwing in an actual gauge to check the oil pressure. That will confirm that you have a problem. If you do, then I would start with the oil pump and go from there.