The oil pressure sending unit (switch) on the oil filter adapter is set to trip the light at about 5 psi. That is also the GM low spec for hot idle oil pressure. There has been a run of your same experience, and the fix is usually to replace the sending unit with another ACDelco piece.
www.rockauto.com, $12 or so. Tight work, up on a lift with the lower splash shield removed. I believe that the car is spec'd for 5W-30 oil, filled no more than halfway up the hashmarks. (halfway is the 7.5 quart mark, the GM spec.) DO NOT overfill the engine.