The oil indicator light is flickering and goes off when accelerating.

Hello, you could have a real low oil pressure issue in the engine. You could also have a sending unit issue, causing a false low oil pressure reading. Either way, I would always err on the side of caution; running the engine continually with low oil pressure could cause some major damage. The only way I would feel comfortable driving the car is if I could put a manual gauge on the engine to see what the oil pressure really was.