I wouldnt be entirely happy with
oil at 140° especially under full load, but the bigger issue is the condensation & the point that the
oil wont be getting hot enough to boil that off. However you dont mention what the water/coolant running temp is, if this is also down around the 140/160 mark then none of the heat critical clearances like piston to bore will be optimum & it could lead to early damage like cracked piston skirts & poor ring sealing.