The Flash Point is a measure of the tendency of an oil, under certain laboratory conditions, to produce a flammable mixture with air. It is just one of the properties that must be considered in order to know the flammability risk of a material.
The Flash Point is the minimum liquid temperature at which the application of a test flame causes the vapors formed on the surface of the sample to ignite.
The Flash Point may indicate the presence of flammable and highly volatile products. For example, in an engine oil, a lowering of the flash point can be the result of fuel contamination of the oil.