double check that the oil filter is tight. it is located right above that flex pipe/ mesh.
Oil? Or condensation mixed with carbon inside the exhaust? Oil coming out would be a very bad sign of serious engine damage. Condensation is normal, and sometimes looks like oil, but it isn't. Do the drops you see dry up after a while?, that would be condensation, and that is just fine. If the drips never dry up, that's oil, and time for a new engine. Good luck!
Check the heater control valve and the hoses where they go into the firewall. If the leak is not there, then the most likely problem is a leaking heater core. You need to look carefully to find the source of the leak before you can repair it. Use a flashlight, mirror or whatever is necessary to do that. If it is a hose, use extreme care removing it from the heater core connection. best to cut it off with a razor blade. If it is the heater core,most times it will make the passenger side rug wet. If it is the core, it isn't an easy job and I'd consider either getting a haynes or chilton manual to guide you, or, have a good shop do the work.
Whenever oil is getting on the exhaust the possibility of a fire can be fairly high, the amount of oil is key, if you just get a little puff of smoke now and then while driving you should be ok until you can find time or money to get it fixed, if it is really smoking allot then you shouldn't drive it.
The dash light indicates oil pressure. When idleing the pressure drops too low and and light comes on. As it revs up, pressure increases.. light goes off.
You should go here and read about low pressure. Too much to copy and paste here.
The small leak onto the exhaust maybe more than just a nuisance, it is a fire hazard. Potential to catch fire. Clean off the COLD header and front pipe with a non flamable solvent cleaner. Also the engine case around the area. You may find the source of the leak.
this a turbo problem, you must to repair turbo