Re: Engine noise at top end
oil light relates to oil pressure, not oil level. I wouldnt be running the bike if the oil pressure light is coming on - you may be starving at least the valve train of oil, possibly the bottom end aswell! No need to get a fancy set of stethoscopes, you can put a screwdriver against the engine and listen down it (put the pointy end against the engine...); this will help you identify if its cam chains slapping about (bad cam chain tensioner) or if its the crank end (bearing shells scored due to insufficient lubrication).
Check engine oil; drain what is in there and see if you get any particulates coming out. That lov oil pressure really needs investigating
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