During exercise my spo2 drops to 94% and fluctuates between 94-97% at rest its 95-98% should i be worried?

Sounds normal: Without knowing your medical history you may have a normal variant decrease with exercise. Provided you do not have a history of smoking, lung or heart issues I would not be too concerned. If you are still concerned consultation with your doctor for a complete history and exam would be prudent.

No: It is normal for your oxygen saturation to drop slightly during exercise, because your muscles are extracting more oxygen to handle the extra activity. This is not an issue. Hope this helps!

Out of breath: That sounds ok. With certain exercise, you will not be able to maintain a high oxygen level, which causes you to breathe faster and more deeply. A baseline level in the mid to high 90s is normal. For people who smoke the SPO2 is lower. If you are a smoker you should quit.

May not need worry: It is said that under normal circumstances normal healthy adults' O2 saturation can vary from 94-98%.Going below 90% for an extended period can cause some damage.If you are dropping well below your resting levels, this may indicate that you are exercising at a level or rate that your body isn't used to.If you also have extreme shortness of breath, dizziness, or nausea you are straining too much.

Oxygen saturation: The fluctuation in oxygen saturation may reflect a small degree of airway reactivity. Usually 98% is normal, and during exercise, the saturation usually goes up or stays the same. If it goes down you may be experiencing exercise induced narrowing in your airways. I would seek consultation with your primary care clinician who can easily check this out in the office