Simon, my understanding is that the 0W-40 uses an additive package suited towards Euro engines including their light diesels, the xW-20 and xW-30 types are definitely brewed towards US (and Japanese petrol engine) requirements.
eg,
M1 5W-30 meets ACEA A3/B5
M1 0W-40 meets ACEA A3/B4
The B4 spec must have an HTHS > 3.5 (mPa.s), B5 an HTHS < 3.5.
M1 5W-30 is effectively a fuel economy oil that has specific US GM and US Honda approvals and meets US Ford specs.
M1 0W-40 doesn't thin near as much under heat/load and has specific MB, Opel, VW, BMW and Porsche approvals.
Can't remember where the 5w-50 falls in the scheme of things, but a fuel economy oil it aint
[edit] this spec sheet for 5W-50 looks pretty good with these approvals
Mobil 1 5W-50
You can blend an xW-30 oil with much higher HTHS specs and a much more robust additive package, but in the US the oil is used to meet corporate average fuel economy figures for the US EPA and the engines are engineered around these oils and survive for a very long time.
Euro engines are designed and made differently and so require a different oil spec.
We've come to the point that the engineering between oil and engine is so symbiotic that manufacturers have these lists of what's approved and what isn't and you waver from them at your own peril.
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