My 97 V70r is doing this. It started a few back - from cold it sounds terrible, like somebody blowing into a Kazoo, or that sound you get when you put a blade of grass between both thumbs and blow. Im also now getting whitish smoke on hot idle, or when accelerating slightly when hot. I suspect a worn turbo and intend to change it over the coming weeks. Little or no oil usage as yet though and certainly no smoke when cold.
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