Our modern day engines are machined to much tighter maching tolerances than in the 80's and earlier, help the builders to attain more desirable performance and durablity results.
And I might add to lower emissions.
5w20 is the way to go unless your car is using oil. Then working your way up the chart, 30 -40 weights makes sense to fill the gaps a bit. Thicker oil seals better and helps with the lubrication (oil stays on the part longer).
Numbers like 5w-20 indicates it is a mutigrade oil vs SAE 30 which would be a straight oil.
The ‘w” actually stands for ‘winter’, not weight.
The 1st number indicates flow at a cold temperature. Lower means the oil will flow better at cold startup which is critical to engine wear. Start your car in freezing temps with too thick an oil and your engine has no lubrication (bad thing). The 2nd number speaks to the characteristics of the oil in hot temps. Again, the lower number equals thinner which is bad when the weather is hot.
So in winter, 5w20 would be preferred. A 10w30 for hot summer driving will also help.
As Roadboss mentioned, the reason car manufacturers like Ford have moved down the scale is due to the tighter tolerances in the engines, hence the need for thinner oil.
Last but not least, use engine oil additives with caution. Yes, they help, but too much is a bad thing.
Btw, I sell the best oil additive in the world.
PM me if you want to get your hands on some.
Used by Nascar and other race groups to prevent engine damage under huge stress. Not magic in a bottle, but is proven to help.