One thing that some may not be aware of, partly because the power steering cap does not spell this out, is that the steering requires ATF fluid and not power steering fluid.

Also for some cars such as the BMW they recommend petroleum base ATF and not synthetic ATF.

Therefore make sure you top up with ATF.

Bob
98 S70 T5
95 Saab 900S
2001 330xi

I have a '99 S70 T5 that had the same symptoms and when I topped off the powersteering fluid it would stop making the groan sound.

For me it was the tank. Apparently the last person to tighten the hose around the bottom of the tank cracked it. I bought a new hose and tank from Volvo for $45 and did the replacement myself. It was very easy and I am not mechanically incline. I couldn't do a break job or anything like that for example. I doubt I could change my own oil even.

if you are lucky the fluid loss is from the power steering line above the
alternator being loose, clean the area tighten the clamp, add fluid.

Whatever it is causing the leak, you are going to do much worse damage by neglecting it and allowing it to run so low on fluid you hear that noise! Check your fluid daily until it is fixed - steering will be expensive to replace if you have not broken it already avoid doing more damage.

have to get under the hood and "sniff" around a bit! The sterring racks are known to leak occasionally. Could also be a loose hose or a cracked housing....that fluid is going somewhere!