Can your o2 be good but still feel restricted and still need oxygen?

Short of Breath: Not really. It depends on what you mean by "restricted." If you mean that you feel short of breath, many diseases can cause shortness of breath without low oxygen levels. In general we do not prescribed oxygen as a therapy unless a patient's oxygen levels are low.

Oxygen levels: how you feel is an unreliable indicator of whether you need oxygen. Oxygen levels can be measured either with blood testing or pulse oximetry and oxygen is generally only needed if the levels are low - under 90% or so. If you are short of breath then you need further evaluation to determine the causes.