That's what I would expect with wort that has been oxygenated beyond the point of equilibrium, which near as I can determine is somewhere between 8-9 ppm. You can certainly force more pure O2 into solution, but to keep it at the desired level for a given amount of time, I suspect, you would need to fill the headspace with a proportionate volume of O2, and not more. Of course, the yeast are going to be converting it to CO2 at the same time, so there's probably no practical way to keep the desired O2 levels where you want them. You can't seal the headspace, and CO2 is going to displace any air and/ or O2. Im sure there's a way to do it with the right lab equipment, but that's not ever going to be practical for home brewers.
That said, you need to have some way of knowing when to stop adding O2. When the fermentation is done, you obviously want all of the O2 gone.
I think we have some good rules of thumb, but I would like to better understand some of the variables involved. We know that strain, gravity, temperature, fermenter geometry, headspace, etc. all have an effect on the duration of the ferment and hence the consumption requirements/rates for the O2.