340 engine oil consumption ???

Well I am no expert but I am going to throw so ideas out there for you. You say its not leaking but is it burning it up? Does the exhaust smoke? I had a 360 once that would lose oil and the bottom of the car was plastered in oil from the leak but it never dropped hardly anything on the ground. I don't remember if we ever figured out the leak on the motor or not but I do remember at higher rpms while driving oil would leak out some how and get on the headers and smoke like crazy.