Usually an Oxygen level spike in the atmosphere, if it is big enough, it is pro cooling as shown in the fossil record. When there is warming of the ocean however, dissolved oxygen and CO2 come out of solution. The oxygen migration out of the ocean presently is 0.5 Million Tonnes a year. What should alarm us is that the oxygen is supplying more oxidation to the atmosphere, but the greenhouse gases that can be removed by oxygen are still increasing, so, we are losing ground increasingly.
Any helpful positive atmospheric feedback that may have happened over the past three decades of a significant total (roughly 18 MT) of oxygen outgassing have not improved the state of the ozone layer, nor oxidized off enough greenhouse gases to effect a reversal of the global warming trajectory as it has done in the fossil record when enough oxygen was present and synthetic greenhouse gases were not present. The refrigerant gases that are destroying the Ozone layer and causing a big chunk of global warming (80ppm CO2 eq) need to be dealt with before rising CO2 takes us into the irreversible hothouse Earth state by warming the planet enough to trigger a deadly level of methane farts, which have already started to happen. Where is our integrity? We owe ourselves and everyone else we share the Earth with an upper atmospheric repair effort.
The oceans have let go of enough oxygen to start causing anoxic zones which are a part of the present mass extinction, but atleast the outgassed oxygen can be sent by plane up to the ozone layer to mitigate its several lingering problems, which should be deemed unacceptable. Why are we accepting so much damage to the earth system? Why are we accepting that the polluters who caused this do not need to show full integrity and pay for the cleanups? Forensic science is capable of doing a full attribution on who should pay, and how this should be funded can be a compilation of consumers and suppliers in the developed world. Anyone who thinks this is too much to ask has forgotten the computing power we can easily deploy to get this done. The sooner we bring this into integrity, the better for everyone. There are many fair ways that can be used to fund our emergencies- or- we can pay nothing and pay the ultimate price of perpetrating an extinction-and being extincted, boiling us down to a brutish, ugly species with all of the right technology to steward the planet. but no real leadership or innovation in the financing of the stewardship needed to stabilize it. We need to be involved in active global mitigation efforts on a routine basis because the planet is small enough to be damaged and fail in its ability to support us if we do not weigh and measure what we are doing. Most of us understand that now. For every methane molecule we allow in the atmosphere, we will need 10 oxygen molecules to remove it, so, the sooner we work to cool the Earth with oxygen, the less oxygen we will squander on methane farts and great discomfort, if not deaths, in the future.
This paper was referenced for the Oxygen outgassing facts: plattner