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It is estimated that about 50% of the world's oxygen is produced via phytoplankton photosynthesis. The rest is produced via photosynthesis on land by plants. Furthermore, phytoplankton photosynthesis has controlled the atmospheric CO 2 / O 2 balance since the early Precambrian Eon.
Oxygen makes up about 21% of the air we breathe and half of this oxygen is produced by phytoplankton in the ocean. All aerobic life requires oxygen to produce energy. In water, oxygen is found in a dissolved form and is much more limiting. For this reason, we measure dissolved oxygen in water not in % but in units of umol/kg. The highest concentrations of dissolved oxygen in the ocean are found within the surface mixed layer at concentrations of > 200 umol/kg.