The mechanic looked over the car and it's not the CCV. He did notice an oil leak caused from the oil pressure switch but he said that it wouldn't have caused the car to lose so much oil.

He did confirm that there was blue smoke coming from the exhaust pipes when the car idles. He says that it's the valve seals. Maybe I'm in denial but could it be the oil pressure switch?

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03 M5
05 X5
01 RX300