Is it really a big concern if I make sure it does not get low?
I would like to add power steering and transmission fluid into this question as well. Aside from the obvious danger of damaging the engine, power steering pump, and, or rack & pinion or, the transmission, there is an insidious hidden damage that occurs from oil leaks of any kind.
All these fluids are a petroleum product. Petroleum over time will dissolve rubber or plastic. There are many components on the undercarriage and engine compartment containing rubber or plastic. These can include engine mounts, steering and suspension boots, hoses, belts, electrical wiring. In my experience the damage created is normally more expensive than it would have been to fix the leak.
So, if you’re thinking it’s ok to ignore those oil leaks think again.