1.)Photosynthesis in the presence of water has O2 as a waste by product which can saturate the upper layer of a body of water. Excess will degas to the atmosphere.
2. Oxygen is an Henry's Law gas: the equilibrium concentration at a given temperature is directly proportional to the partial pressure in the gas phase and is generally a decreasing function of temperature. Colder temperatures and higher total pressures(near the bottom) will have higher dissolved O2 concentrations due to the presence of air bubbles.
3.) The solubility is lower at higher temperatures so the total amount of O2 dissolved would be less.
Jim