Plugs.

When I cleaned that "vent chimney", I put a drill bit on a piece of rubber tubing so I could get the drill bit up far enough. I then would slowly hand twist the drill bit to collect the muck, bring it back down and clean it. I was amazed of how many times I had to put that drill bit up the...

I use this laboratory gadget. I can't believe I didn't break it yet!
Also, to get an accurate reading, you should let the drained oil to cool down to 60 deg F.
But I get a good ballpark of what came out.

There's a 24.56% difference between 160 and 125. If those readings were correctly taken, that indicates something wrong.
How does the car run?

My 2001 V70 2.4T uses about a quart every 1,200 miles or so. Plugs looked oil free after 50,000 miles and zero oil leaks and no smoke. My PCV was done about 4+ years ago and that didn't improve oil consumption. I just keep track of my mileage and add oil when necessary. Yours is worse than mine, but...

I tried to post my last report, but I couldn't figure out how to fuzz out my phone number and such. 4-1-2018 153,000 miles......7ppm first oil sample 11-25-2018 162,000 miles.....3ppm first report after fixing oil pickup 8-24-2019 172,000 miles.....1ppm second report shows good I'm at around 197,000...

Put an air hose on the oil fill cap and inflate your tires!!

On Youtube, the FCP Volvo guy goes thru the job on a 2004 S60. Watch the video and take notes on the order of things and how he gets things apart and back together.

Sounds like a good plan of attack. My 01 had crap under the oil cap when I bought it. I cleaned it up and changed oil a couple of times and my VVT solenoid also went out. Next it was the oil light like your 02. I did an oil pan /oil pickup o-ring job and all is well. Be prepared for a lot of cleanin...