The great debate is now on:
Should you moisturize with a facial cream or facial oil?
The simple answer is: it depends.
Overall, the difference is mostly personal choice. Creams offer a much higher level of safety but oils, with proper use and experience, can offer faster and more long lasting results.
Both will hydrate the skin and both will certainly address multiple skin care concerns.
My advice is choose based on budget (creams are less expensive than oils ml for ml), level of expertise with skin care (be well educated in the use of pure oils) and of course based on your personal texture preferences.