2005 Chevy Cavalier Car sputtered stopped cranks but wont s

Was driving car. It didnt make any noises or have any signs of a problem (no lights etc) All of a sudden it sputtered I couldnt accelerate and it came to a stop.I checked the oil and it was very low so I put motor oil.
I tried to turn it on and it just cranks but doesnt turn on. The oil light stays on when I turn the key. That I have never seen on before(but it has never been on while driving). All other lights go out when turning the key.
I tried disconnecting the battery thinking that the car (2005 chevy cavalier) mite have a reset switch that needs to be reset. That didnt work. I also couldnt locate a reset switch anywhere in the car or trunk. Can you help? Is there anything I am over looking? Is there something maybe wrong with the engine?