Do you have an alarm on this bike?
From your symptoms (oil light on but not others) the ignition circuit is at least being completed through the key-switch, but the EMS relay is not turning on;
There are several possibilities:
1. Kill/Run Switch - it could be the contacts on the switch or the connector is loose - for the latter make sure it firmly clicked and locked into place.
2. Alarm interlock (if installed, highly likely this is the problem)
3. The EMS relay is bad.
If you can probe voltages along the circuit path, it will direct you to the issue
Pull the fuel pump relay (yes I know I said the EMS relay might be the problem - this is just a convenient test point);
Measure the voltage on the terminal with the Green/Red wire;
If you do indeed get 12V here, the problem is the EMS Relay (again, note the distinction between the different relays here)
If you do NOT get 12V, then problem is EITHER
a) the Kill/Run switch
b) Alarm
Once again, if you have a datatool alarm, even if you believe it is disarmed, this is most likely source of the issue.
If you do not have an alarm, then problem could potentially be the Kill/Run Switch
First, check that the connector from the Right Bar Switch is properly connected, firmly clicked and 'locked'
Next, take a needle and puncture it through the insulation of the green/brown wire on the main harness side of the connector - touch your red probe to the needle and check for 12V there - you should have 12V with the key on and Kill in Run position;
If you do NOT then problem in the switch - if you DO, then that takes you to the alarm connector - either alarm itself or the bypass connector