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Below is a summary of the advantages and disadvantages of latex and oil-based paints. We would typically use latex under most conditions, but maybe your specific need would require an oil-based paint.
|Fast drying||Shrinks more when drying, creating more surface stress|
|Better fade resistance||More temperature sensitive, needs warmer temps|
|More chalk-resistant||Less adhesion to dirt|
|Breathes with less blistering||Can stain with water-soluble contamination|
|Retains flexibility longer||Softer, normally not used in high traffic areas|
|Better on alkaline surfaces like masonry|
|Will not yellow|
|Resists mildew better|
|Cleans-up with water|
|Good on galvanized metal|