Abstract: An oil lubrication system, especially for knitting machines includes a plurality of electromagnetically driven piston pumps, one of which is assigned to each individual lubrication site operated by and exciting current pulses of adjustable pulse-recurrence frequency. Each piston pump has a scanning device which produces a receipt pulse during the working stroke when the pump piston reaches its end position. The current pulse and receipt pulse are applied to a monitoring device which provides an output signal if the receipt pulse is not applied within a certain time after the current pulse. An indicator light flashes at each current pulse and switches to a permanent signal when an output signal is produced. An oil storage vessel feeding the pumps can be provided with a filling state monitor when produces an electrical oil deficiency signal when the oil level falls below a predetermined minimum. Both the oil deficiency signal and the output signal are applied to a disconnecting unit which stops the machine.