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FUNKY noise from engine!! '88 740 Turbo 700

The oil and filter were changed just 3,200 miles ago. Shortly after starting it today, the engine kept making this noise like it was eating rocks! I checked the oil and it was empty! The car has no leaks - so where could it have all gone?? I proceeded to throw in 2 1/2 quarts of Mobil 10w30.

The noise has gone away.. however, i'm nervous about having done irreprable damage to the engine..

Could the noise also indicate that i need a new water pump?

Sorry to ramble, but the car is only giving me approx. 17 MPG in the city. Isn't this way too low??

I'm asking these basics b/c it is new to me and I'm unfamiliar w/ Volvo's.

Its a 1988 740 Turbo Intercooler station wagon, 125K miles.

thanks for any thoughts and advice!! Much appreciated.

Maurice
Alexandria, VA






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