An oil pressure relief valve for use in the oil pump lubrication system of an internal combustion engine is controlled by both oil pump outlet pressure and by pilot pressure from a pilot valve which is selectively applied by a control member, preferably a two-way valve that is operated by the engine control module. The pilot valve selectively supplies one of the oil pump outlet pressure or the engine gallery pressure to the control member which selectively supplies pilot valve pressure to the oil pump pressure relief valve which has a single piston. The pilot valve includes first and second pistons for selectively controlling back pressure from the pressure relief valve and for managing changes in oil pressure due to changes in the engine gallery to maintain a virtually constant pressure even as oil pump speed increases when the control member connects the pilot valve to the pressure relief valve resulting in a fuel economy benefit and improved control of the oil pump pressure.