Compression ratio, camshaft profile and altitude are the three biggest factors in calculating what the final pressure should be with a tight (<5% leakage) cylinder. Wear lowers it, deposits raise it (by raising compression ratio).

A compression test will NOT show anything regarding the condition of parts outside of the internal cylinder. Nor will it show the condition of the oil control rings, except for the fact that excessive oil could help seal worn compression rings and indicate normal readings when all rings are worn.

The oil rings are a possibility in your car but the symptom sounds much more like bad valve stem seals, which also will not be shown by a compression test. A vacuum gauge will find badly worn guides, but servicable guides with bad seals on them tend to read normally. You can unbolt the intake manifold and inspect the intake valve stems for wetness/deposits to be sure if this is it. The seals can be replaced with the cylinder head bolted in place.