What Does Oauth2 Connection to a Web Data Connection Mean?

I have created a Power BI report that plus to a web data source (an Excel file located in SharePoint). I have published this file to Power BI workspace.

In the power bi service connections I can see that the connection is automatically created as a Cloud connection with the url to the file and authentication is OAuth 2.0.

Does this mean it will use my credentials or will it use the credentials of the person who hits the refresh button (on dataset)?

Reference:

To use a OneDrive for work or school file as a data source in the Power BI service, with Service Refresh enabled for that file, make sure you select OAuth2 as the Authentication method when you configure refresh settings. Otherwise, you might encounter an error when you attempt to connect or to refresh, such as, Failed to update data source credentials. Selecting OAuth2 as the authentication method avoids that credentials error.