Oceans general circulation models predict that global warming may cause a decrease in the oceanic O 2 inventory and an associated O 2 outgassing. An independent argument is presented here in support of this prediction based on observational evidence of the ocean's biogeochemical response to natural warming. On time scales from seasonal to centennial, natural O 2 flux͞heat flux ratios are shown to occur in a range of 2 to 10 nmol of O2 per joule of warming, with larger ratios typically occurring at higher latitudes and over longer time scales. The ratios are several times larger than would be expected solely from the effect of heating on the O 2 solubility, indicating that most of the O2 exchange is biologically mediated through links between heating and stratification. The change in oceanic O 2 inventory through the 1990s is estimated to be 0.3 ؎ 0.4 ؋ 10 14 mol of O2 per year based on scaling the observed anomalous long-term ocean warming by natural O 2 flux͞heating ratios and allowing for uncertainty due to decadal variability. Implications are discussed for carbon budgets based on observed changes in atmospheric O 2͞N2 ratio and based on observed changes in ocean dissolved inorganic carbon. R epeated hydrographic surveys indicate that the upper 3 km of the oceans have warmed (1) and intermediate waters of high-latitude origin have freshened (2) over the past few decades. Model studies indicate that upper-ocean warming, high-latitude freshening, and an associated increase in the density stratification of the upper ocean are expected consequences of the changes in atmospheric radiative forcing caused by fossil-fuel burning and other human activities (3-5).Repeated hydrographic surveys also indicate that small detectable changes have occurred in oceanic dissolved O 2 concentrations. As summarized in Table 1, detectable decreases in O 2 have been found in intermediate waters in the North Pacific, North Atlantic, South Pacific, and South Indian oceans, while small increases have possibly been found in deeper waters in the North Pacific and South Indian Oceans. What caused these O 2 changes is unclear, and different mechanisms, including changes in ocean circulation rates (6-9), changes in preformed values (10), changing Redfield ratios (11), and changes in biological production (8) have been offered as possible explanations in different regions. While the changes may partly reflect natural decadal variability, the clearest O 2 changes, found at intermediate depths, are in the direction of decreasing O 2 concentrations. A global reduction in dissolved O 2 is predicted by ocean general circulation models (OGCMs) driven by increasing greenhouse gases (12-15). In the model simulations, most of the O 2 decrease is attributed to enhanced stratification.Stratification has two competing effects on subsurface oxygen concentrations. First, it reduces the upwelling of nutrients from deeper waters into surface waters, thus decreasing photosynthetic production and the associated flux of organic detritus into the ocean interior...