I've given it a little more thought. Your reading do indicate that the bulb could be ok. Any resistance other than an open circuit in the circuit from the oil pressure switch, through the bulb , to the battery + would give you 12 volt at the switch with the engine running. A better check would be to check the actual resistance from the plus side of the bulb to the oil pressure switch with the wire off of the switch. If you read a very high resistance then you need to find the bad connection or bulb.