I have a 1999 Volvo S80 Turbo T6 with a 111,000 miles on it. The oil can light on the dash comes on when the engine is warm and the car is not accelerating. The message that that comes up is stop the engine ASAP there is no oil pressure. The local Volvo dealer wants $500.00 to drop the oil pan and take a look to investigate the problem.
Unless you do it yourself. Everyone will want close to that, pressure test the pump, you should get about 5 psi at idle and up to 30 psi at 2000 rpm. Could be the sensor! Check first! If it is the pump, at least you can take it in and know!