A likely cause may be the valve stem seals wearing, Bruce.
My V70, 2000(V) 136k is the same. It is particularly noticeable when coming back onto the gas after an extended period on the overrun, after descending a long hill, for example, or of idling in traffic.
A cloud of blue smoke coming from the exhaust at such times is a good indication that this may be the problem. It is also one that most people decide to live with, at least until it gets really bad. But if you're constantly laying a smoke trail, it might be time for action!
Regards, John.
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