Not in any of my Volvos.
The general consensus is that the turbo white blocks seem to like a "40" weight best, and a full syn is highly recommended.
The present manufacturer recommendation is 5W or 10w-30, with a 10W-30 preferred for "more severe" conditions. 10w-30 was preferred for most pre-P2s. 5w-30 is recommended for CAFE. You'll rarely see a Volvo running 5w-30 in Europe.
I run 10w-30 in all our vehicles, in varying degrees of quality (RL or Schaeffers), depending on the engine. RL 10w-30 is as good as a 40 weight, and reduces turbo spool up.
For the original poster, My Mopar mechanic bud has a '98 Neon he bought new, now with a gazillion miles on it (actually mid 100s). Nothing but 10w-30 since day one. He says you can take the internals out and put them on the parts shelf.
I think you can use a 10w-30 in all but the coldest climates with condfidence.