The present invention concerns a method for forming an article by combining a polyester polymer and an oxygen scavenging composition comprising a polyamide in the presence of zinc and a cobalt in a melt processing zone to form a melt; and forming an article such as a sheet or preform from the melt. Also provided are molten formulated polyester polymer compositions containing a blend of a polyethylene terephthalate polymer and a polyamide polymer along with zinc and cobalt. Articles made from the composition are resistant to the transmission of oxygen, possess short induction periods, and have high capacity for sustaining lengthy periods of low oxygen transmission through the wall of the article.