That is a common problem with aging engines. It could be as simple as the oil filter you use. a cheep one can go into bypass easily due to poor quality control in the build process. It could also be your sender unit which also has a reputation for being flaky. My engine has the same problem but runs strong other wise. I use 20/50 and 2 quarts of Lukas and it never goes below 15 lbs. That is a little heavy for Northern engines in the Winter. If your engine doesn't start making knocking noises when at idle then there is enough oil being distributed. As a rule of thumb, you need about 10 lbs per 1000 RPM. You might want to do what many of us have done and that is to add a wet oil pressure gauge so you can see what the pressure actually is. If you change the sender unit
DO NOT use Teflon tape on it. It depends on the thread to intake manifold contact for proper grounding. The threads are designed to make the seal.
Good luck,
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