When I bought my HPC compreessor from the local specialists they advised that the resrvoir should be stored with the drain valve open. Not only will any obvious condensation be removed, but any remaining can drain at leisure.
I blow mine down and drain after every use. The air take off is routed through a water trap / filter into a the regulator for the outlet pressure.
When professional compressed air installations are made, it usual to install take off pints from the main using four way unions. The horizontal connections are to the ring main, the upward facing one is the take off, and the downward facing ones goes to a MT cock, so that moisture can be drained off at point of use.
If the drain pipework runs upwards from the drain point on the reservoir, moisture will remain in the bottom of the pipework, and possibly in the reservoir, which defeats the purpose!
So the condensate drain should always run down, away from the reservoir.
Howard