I have been thinking about your reply. With exertion your blood oxygen will drop and that is certainly true in my case. But what I have been told is that an exercise program will build your strength and in time increase your blood oxygen level overall. I am acting on the premise that that is true. Time will tell.
Well, that is a tricky one to answer.
In some cases it can actually lower your O2 levels to dangerous levels, even very mild exercise. If you are in an asthma flare, it is not recommended that you exercise. If you do, very mild exercise is recommended.
In general though, aerobic exercise increases lung function which will raise O2 levels.
God bless.