Carbon dioxide (CO2)miscible fracturing huff and puff technology plays a pivotal role in enhancing the recovery rate of crude oil, particularly in reservoirs with challenging physical properties, strong water sensitivity, high injection pressure, and complex water injection dynamics. In this study, the oil-increasing mechanism and huff and puff effect of CO2 miscible fracturing fluid are investigated through a comprehensive experimental approach. Specifically, experiments on PVT gas injection expansion, minimum miscible pressure, and CO2 miscible fracturing huff and puff are conducted on the G fault block reservoir in J Oilfield. The findings demonstrate that injecting CO2 into reservoirs leads to oil volume expansion, viscosity reduction, and saturation pressure increase. Additionally, the inclusion of solubilizers and viscosity reducers further enhances the efficiency of crude oil extraction. Solubilizers not only improve oil recovery but also reduce the minimum miscible pressure required for effective CO2 dispersion. Furthermore, the shut-in time, permeability, and huff and puff method all have considerable impacts on huff and puff recovery rate. This study offers valuable technical insights, supporting the application of CO2 miscible fracturing huff and puff technology to enhance oil recovery in low-permeability reservoirs.