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With the rapid development of China's society and economy, relevant industries get good development opportunities, and the demand for oil is increasing. The oil production in the oilfield is increasing day by day. At present, most oilfields gradually enter the middle and late stage of water injection exploitation, which increases the exploitation difficulty and reduces the exploitation amount. In this paper, a comprehensive analysis of waterflooding reservoirs and reservoir performance is made to promote better and faster development of petroleum industry.