Welcome back.
Based on the description of the vibration, yes the wheel bearings can be an issue. If that does not remedy the issue, I would suspect a bent rim or even an alignment issue. And yes, if it is 2wd, the rear wheels are the drive wheels.
Now, the code you gave me is related to an oxygen sensor (O2 sensor). This is part of the emissions system for the vehicle. Here is a link which describes how it works:
https://www.2carpros.com/articles/how-an-oxygen-sensor-works
Here is a link which describes how to test one:
https://www.2carpros.com/articles/how-to-test-an-oxygen-sensor-02-sensor
Take a look at those two links and let me know if you have other questions or need clarification on anything.
Take care,
Joe
Tuesday, July 17th, 2018 AT 7:52 PM