help find the problem

Hi  i have a Toyota Camry 02 2.4 manual car
, and one day it was pouring rain and I
burned rubber, then my oil light came on. I
pulled to the side and checked my oil and it
was full, so I continued driving the car for a
few days with the oil light still flashing on a
off. As the days went by I could feel my car
lacking of power. Well I drove it like that in
till it started dieing out and losing power and
next thing u know it started making a
knocking sound and the compression wasn't
there what's wrong or what are the things i
need to check on my car?