check your user manual and see if it is a low oil level warning, or a low oil pressure warning?
If its low oil pressure then do not run the engine with the light on, ever. If the oil pump has stopped working your bearings will rip apart in a manner of minutes.
This is true for all gas engines. Some cars have become very ambiguous with the "idiot lights" - yellow, red, flashing, little oil cans and wrench symbols.... If you are not certain what a fault light means stop immediately and check the manual (for cars and MCs).
If it only a low oil level light, and you are sure the level is ok, then you can ignore it. My bike does not have an oil level light.