I meant in Endurance races, when you drive too long your oil is near empty.
Do you mean fuel?
The light in the HUD turns on, I don't think a dashboard light in cockpit view turns on.
If you mean fuel, the cockpit's gauges and lights definitely do not show anything, only the HUD.
Oil goes bad, it doesn't get low (in the game).
Maybe edit your thread and title to read "fuel" instead of "oil" so people searching later will be able to find the thread.
Also note the oil is not affected in Bspec (I don't think mileage is either but I'm unsure).