A 60-year-old man with chronic obstructive pulmonary disease (COPD) presents with increasing shortness of breath and fatigue. Arterial blood gas (ABG) analysis shows: pH: 7.30 (Normal: 7.35–7.45) PCO₂: 55 mmHg (Normal: 35–45 mmHg) PO₂: 60 mmHg (Normal: 80–100 mmHg) Bicarbonate (HCO₃⁻): 28 mEq/L (Normal: 22–26 mEq/L) The patient is experiencing chronic respiratory acidosis due to CO₂ retention. Which of the following best describes how oxygen delivery to the tissues is affected in this patient?