Damn this is an awesome find! And so near by too (well in the scale of the universe it's nearby.) This shows that oxygen does exist in the universe, and has know been proven on the molecular level. However: There is 1 oxygen molecule for everyone 1,000,000 hydrogen molecules. Source: Oxygen molecules found in nearby star-forming cloud
Amazing find, maybe by looking into this more we can figure out how to effectively alter climates on other planets by extracting the oxygen from its hiding. Terraforming techniques in the works right here.
Well, be sure to keep this in context. This is taking place is a cloud of molecular gas that is filled to the brim with asteroids, meteors and planetoids; it's in very small quantities. There is no practical or foreseeable collection method -- or purpose. We already have clever lifeforms at our disposal that make use of photosynthesis and release molecular oxygen from planetary geologies. This instead is an illuminating indicator for planetary scientists and astrobiologists. This lends clarification to the idea that trace oxygen in a planetary atmosphere might equate to unseen metabolism of life. If we detect such an occurrence, we might be saved from making an embarrassing conclusion that life must exist there. Now we can use a better understanding to posit that such trace oxygen is naturally-occurring.
It has future applications, as the article stated, that they think (theory) that oxygen isnt so abundent because it is frozen(maybe on planets). By finding this it helps us refine our searching criteria.