Honda Rebel 500 dies after 3rd gear unless I hold the clutch. Sputters when idling
For future reference please take a moment to note the difference between the title of your post and the body. The former is intended as a short description, is length-limited (long entries like yours are cut short), and is not for all the details of your issue. That belongs in the body of your post. Thank you. (Title edited.)
Well, if the oil light came on because you were low on oil it could have damaged the engine internally. So do a compression test of the engine first. If not that often the carburetors go bad on those things