When I rev up my car in nuetral it blows a small amount of black liquid out of the pipe. I asked my friend about it and he says it's condensation and suit from the exhaust. I'm a little concerned about it, is it nothing to worry about?

Coincidentaly my low oil light came on today and I checked it and it was below where it was supposed to be. I just had the oil changed and it was completely full a little more than 1000 miles ago. There are no oil spots below my car, I parked ontop of an old towel for an entire day/night to make sure none was dripping and there's no oil on the towel so it isn't leaking from underneath. There's also no smoke coming out of the exhaust at all so it isn't burning any oil. Where is all this oil going??

 

Low oil light is @ or under 1qt. low right?havent had mine that low for a light. So if you are burning more than a 1/2 qt. like 1qt. or more in a 1000 miles I think that would be a problem.And would explain the amount of soot that you have that is mixing in the condensation.But as far as the black stuff your friend is right.But you may have an overly abundant amount at that rate of oil consumption. I'm sure someone will chime in now right or wrong
You maybe should check the oil more often now,especially if you ENJOY your Camaro like gettin on it all the time That would not be a good thing ENJOYING it with low oil.

 

One qt per 1000 miles should still be all right, depending on how you drive. If the car is not smoking blue/black out of the tailpipes I wouldn't worry too much.
If you ask at a repair shop they'll very likely tell you anything just to make some money...
The black stuff (liquid) should stop once the exhaust is warmed up all the way, just keep an eye on it - it might just be condensation...

 

its a mix of fuel, condensation, and carbon..

if it was oil it wouldnt be black, and the car would have blue smoke coming from the exhaust ALL the time..

its nothing for you to be concerned with ... at all

 

Agreed, just extra fuel. I learned that one when i saw a whole bunch of wrx's gettin dyno tuned... most started with A/F ratios of like 9:1... and black smoke, ended looking clean as a whistle