Piston Rings or Valve Seals Please Help!

I have a 1990 Mustang LX 5.0 and when the car first cranks there’s no smoke at all but once it warms up it starts smoking pretty bad and burning lots of oil. Driving it in traffic is very embarrassing. Out of all the spark plugs, spark plug #8 becomes covered in oil and fouls out if you drive it a few miles, then once cleaned off it drives fine again. Does the car need new piston rings or could it need valve seals? I’ve done a compression test here is the results:

1 -122
2-124
3-110 (Went up to 160 when adding oil in hole)
4-130

5-140
6-115
7-110
8-125

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