Had a '97 F150 with a Romeo 4.6. Used 5w30, name your name brand dino brand on sale its whole life I had it (163,000 miles). Didn't burn a drop when I sold it and ran like a top. (Sold it for a 4x4 version of the same truck)
Next truck was a '99 F150 with a Romeo 4.6. This one burned a quart every 3,000 miles on 5w30 and 5w20. A quart every 4,000 on 5w40. Ran like a top when I sold it at 193,000 miles (needed a supercrew). I did one year runs with UOA's (about 3 oil changes per year) on 5w20, 5w30, and 5w40. Negligible differences in UOA results. Fuel mileage took a 7% hit on 5w40 versus 5w20 or 5w30. Before anyone sqwaks, these were for one year periods which meant they got winter use, and it gets cold in MN if you didn't already know it. The winter mileage was a killer. In a warm climate, it may not matter as much. I also did the same thing in my '88 Cherokee and it didn't matter to that one. In the end, I settled on using 5w30 year round for commonality with another vehicle in my fleet.