Oil in exhaust pipe

Does anyone know what it means to see an oily sheen in one’s exhaust pipe?

Possible worn piston rings or ones not seated properly letting oil by.

You don’t ID the vehicle, mileage, etc.

2000 Daewoo Nubira. The timing belt blew at 22000 miles so engine rebuilt by dealership and now at 92000 (actually 72000 on this rebuilt engine).

Check the oil to see if you are losing any. If not, then it’s probably just soot. I used to change the O2 sensor to fix that but times may have changed.

Sadly, most likely a blown head gasket.