Carbon monoxide (CO) influences the radiative budget and oxidative capacity of the atmosphere over the Arctic Ocean, which is a source of atmospheric CO. Yet, oceanic CO cycling is understudied in this area, particularly in view of the ongoing rapid environmental changes. Therefore, incubation experiments were conducted in the Fram Strait in August/September 2019 under light, dark and pH-manipulated conditions. Lower pH did not affect CO cycling. Enhanced CO production and consumption correlated with high absorption of colored dissolved organic material and low dissolved nitrate concentrations, suggesting microbial CO uptake under oligotrophic conditions which, in turn, controls the CO surface concentrations. Both production and consumption of CO will likely increase in the future, but it is unknown which process will dominate. Our results will help to improve models predicting future CO concentrations and emissions and their effects on the radiative budget and the oxidative capacity of the Arctic atmosphere.