I had a husky oiled type compressor at my last job with similar symptoms. I was expecting a reed valve problem but upon teardown I found a damaged gasket. I forget if it was the gasket between the valve assembly and cylinder or the valve assembly and the cylinder head, but it was one of those and iirc, this is the kit I ordered.
Shop OEM replacement parts by symptoms or model diagrams for your Husky C302H 30 Gallon 155 Psi Ultra-Quiet Portable Electric Air Compressor!
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it includes all the gaskets, so I replaced them all since they were disturbed. It was a pretty straightforward repair and saved several hundred dollars. i have a thread on this diagnosis and repair here
Husky C302H air compressor 30 gallon, twin cylinder, single stage, oil lubricated air compressor bought from Home Depot in early 2018. It won't build pressure and makes a weird, almost chirping sound when running. It has an air filter for each cylinder. I removed both air filters for...
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no pics in the thread unfortunately.
overall it was a satisfying repair to do it and save my department the cost of a new compressor, save the compressor from the scrap pile, and have something work well again after being non functional. I dont know if it’s critical, but i used a torque wrench on the head bolts during reassembly and retorqued them after some number of hours of operation.