I have the smell of burning oil from my 2002 Ranger Edge 4x4 4.0L with 120,000 miles.

I don't have any blue smoke coming out of the exhaust, I don't have to add oil in between oil changes so it must be a minor/small leak. It doesn't always have the smell of burning oil after driving it. Somedays I can smell it. Some days I can't smell it. Oil pressure gauge is good, Temperature gauge is good on dash.

I do have oil spots underneath the oil pan in my garage.

So what/where should I look next to try and narrow down the problem? Thanks for any help guys! :)

 

Valve cover gasket lower side, toward the back, is most likely place to have oil leaking onto exhaust manifold

Oil sits in the back lower side when engine is off, so most like place for it to leak

PCV Valve should be changed every 3 or 4 oil changes, the PCV system creates negative pressure inside the valve covers so helps prevent leaks like this from starting and reduces the amount it leaks with engine running, so good to keep it in good working order

 

A rear crank seal can also leak and drip on the exhaust while driving. This result in the smell of burning oil too. That is something I am experiencing now and plan to fix it soon when I replace my slow leaking clutch slave cylinder. I am at over 240K miles but rubber seals can harden with age and mileage.