Assuming that:
- the oil pump moves a fixed volume of oil per rotation;
- the oil level never drops so low that the pickup is even partially starved;
- oil is not compressible;
why is it that the system oil pressure drops as the crankcase oil level drops?
I have two hypotheses. One is that it is related to the amount of air trapped in the oil, and the other is that it is related to crankcase pressure.
Maybe I should have taken fluid dynamics in school...