Bogging, can it be caused by O2 Sensors?

[truegearhead]

I've got a bit of a nightmare, I'm a week a way from taking my car to the track and I have a bogging problem. Its a just a track car and has test pipes, I just replaced the airfilter and re hooked up the rear O2 sensors (I don't have cats so they weren't doing much). The car is throwing O2 codes (as it always does with test pipes). My question is, can full throttle bogging be caused by O2 sensors or is something else at play. I'm thinking the new filter may have had oil on it and ruined the MAF (its been 43-4 years since I've replaced it). What do you guys think?