My '99 Saturn Sedan is showing the red "Low Oil"

Usually this would mean that your oil pressure is lower than it should be and the oil pump is weak. It can also be the oil pressure sensor. That is very inexpensive to replace. It should be an easy DIY job.
You should also know that many Saturns have a reputation for leaking head gaskets. Oil ends up in the overflow tank and the light starts to blink.
Even if you have changed your oil very recently, keep checking the oil level. Look into your coolant reservoir . If the oil in the crank case turns a milky color, then water is getting into the oil.
First I would check the fluid levels, if they are still up, and the oil is clear, replace the oil pressure sensor. Probably costs about $10.00 at the common discount auto parts places. If you still have
the blinking light. Then low pressure is the culpret. If you have overheating problems, it can badly affect the oil life cycle and you can bet low pressure reading because the oil life has expired from it being overheated. Take a look at these factors I've mentioned.
Hope this helps,
Best,
Mark

Have your oil presure checked at a shop