Hello and Thank you for choosing Just Answer. My name is XXXXX XXXXX X will be helping you with your question today.
Yes it does sound like an oxygen sensor that is going bad. If there are no driveability issues, You may see a slight drop in fuel mileage but that is about it. If the motor starts running a little rough which may be tomorrow or may be in a year, The problem will need to be addressed as it can cause further damage. But most of the time it will not cause any further problems.