G'day and welcome to our forum maximus!
To answer your question it depends on what type of engine you have.
For late model multi valve multi cam engines the best oil is 10w30 or 10w40 or even 0w synthetic. These modern engines run lot closer tolerances and very delicate valve train so thinner oil is better.
If you own a dinosaur V8 however it is different story. Because all the internals lot heavier they require loser bearing clearences and to take up for it you have to run heavier oil.
I use Penrite HPR 40 which is 20W70. It is like honey and works well in big bore V8's. I recommend minimum 20W50 as long as it is not Woolworths brand. Castrol Edge 25W50 is one of the best and it is available any store.
Some drag racers even run diesel oil in their engines with no issues.
Bottom line is, old pushrod V8's heavy oil, modern ricers thin oil.
Cheers, Chris.