There are a few things that can cause this and you will just have to go through and methodically check each part.
1. Your OPV, which you showed a picture of. Pull it down, replace all o-rings, clean all surfaces and check for corrosion. Replace parts or valve as necessary.
2. Leaking PMV, this is located on the bottom of your filter stack where your whip outlet is. Same procedure as above.
3. Leaking valve on final stage. This one is a little more tricky, you will need to remove the head and check the sealing surfaces, replace the o-rings and or replace the valves.
4. Loose drain knob or worn drain seat, or dirt on seat. The springs on these can wear out, so you just have to close them by hand. If the seat is worn, remove the spring from the eyelet, remove the drain and seat. You can machine the seat by putting it in a pedestal drill chuck and touch it up with a little bit of very fine sandpaper on your finger. I've done this and it works well.
Any small amount of carbon or dirt can cause any one or more of these devices to fail. With the limited information we have on the oil type you use, age and condition of your compressor etc, service intervals, valve change or not etc, it is difficult to be able to determine the exact single cause but this information should help you find the leak. For what it is worth, the OPV on top of your filter should only vent when it reaches your maximum pressure and not leak a thing when the pressure is below this maximum blow off point.
Someone else may be able to offer you a more conclusive diagnosis but these things would be a good start.