Ocean deoxygenation due to anthropogenic warming represents a major threat to marine ecosystems and fisheries. Challenges remain in simulating the modern observed changes in the dissolved oxygen (O₂). Here, we present an analysis of upper ocean (0-700m) deoxygenation in recent decades from a suite of the Coupled Model Intercomparison Project phase 6 (CMIP6) ocean biogeochemical simulations. The physics and biogeochemical simulations include both ocean-only (the Ocean Model Intercomparison Project Phase 1 and 2, OMIP1 and OMIP2) and coupled Earth system (CMIP6 Historical) configurations. We examine simulated changes in the O₂ inventory and ocean heat content (OHC) over the past 5 decades across models. The models simulate spatially divergent evolution of O₂ trends over the past 5 decades. The trend (multi-model mean and spread) for upper ocean global O₂ inventory for each of the MIP simulations over the past 5 decades is 0.03 ± 0.39×1014 [mol/decade] for OMIP1, −0.37 ± 0.15×10¹⁴ [mol/decade] for OMIP2, and −1.06 ± 0.68×10¹⁴ [mol/decade] for CMIP6 Historical, respectively. The trend in the upper ocean global O₂ inventory for the latest observations based on the World Ocean Database 2018 is −0.98×10¹⁴ [mol/decade], in line with the CMIP6 Historical multi-model mean, though this recent observations-based trend estimate is weaker than previously reported trends. A comparison across ocean-only simulations from OMIP1 and OMIP2 suggests that differences in atmospheric forcing such as surface wind explain the simulated divergence across configurations in O₂ inventory changes. Additionally, a comparison of coupled model simulations from the CMIP6 Historical configuration indicates that differences in background mean states due to differences in spin-up duration and equilibrium states result in substantial differences in the climate change response of O₂. Finally, we discuss gaps and uncertainties in both ocean biogeochemical simulations and observations and explore possible future coordinated ocean biogeochemistry simulations to fill in gaps and unravel the mechanisms controlling the O₂ changes.