As you no doubt know, these are generally attributed as products of cellulose thermal deterioration.
As I recall when CO becomes appreciable fraction of CO2 it suggests decomposition occuring at higher temperature... you have very low ratio so presumably not as high.
I think it is farily common in Generator Stepup transformers to have high CO2 and often blamed on prolonged runs at high temperature.
We had a very similar trend in our 345KV GSU. Oil temperature fairly steady between 80 and 90C. Up to 10,000ppm CO2, 1000ppm CO. Sometimes water bounding above 25 ppm. Oxygen consistently a few thousand ppm (I forget exactly). It existed for 15+ years, during which transformers were drained/dried multiple times.
We assumed temperature was the primary culprit, until we learned different... We replaced our dresser couplings with some kind of hard bolted flange with accordion-type bellows to accomodate thermal expansion.... and the condition disappeared (now CO2 doesn't exceed a few hundred). Apparently it is also the moisture and oxygen (along with temperature) that contribute to this thermal aging of cellulose.
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(2B)+(2B)' ?