Understanding the flow behavior of oil–water phases in porous media is crucial for revealing the kinetic mechanisms underlying oil–water movement. In this study, we designed and constructed a fluorescence visualization experimental platform for carbonated water injection (CWI). We evaluated the effects of nine distinct injection rates on oil production and CO2 sequestration capabilities using three types of homogeneous porous structure micromodels. The microscale oil–water seepage behavior at the pore scale was also explored. The experimental results indicate that optimally increasing the injection rate can improve displacement efficiency, whereas excessively high rates may lead to viscous and capillary fingering. The geometry of the micromodels, particularly the hexagonal matrix, demonstrates potential advantages in enhancing oil displacement due to its uniform flow paths. The capillary number (Ca) significantly influences oil droplet capture behavior within micromodels. For instance, micromodel A captures the largest ganglion area at low Ca values, with a noticeable reduction in average ganglion area as Ca increases. Conversely, micromodels B and C exhibit similar trends in ganglion size variation at high Ca values, suggesting a more uniform impact of pore structure on oil droplet capture behavior. At elevated Ca values, capillary forces exert a more uniform and controlled effect on oil droplet capture and release, minimizing size variability. Additionally, the injection rate plays a critical role in CO2 sequestration, with higher rates promoting convective mixing between CO2 and reservoir fluids, thereby enhancing dissolution and storage efficiency. The complexity of the pore structure, characterized by the presence of micropores and macropores, affects the dissolution kinetics and mobility of CO2, influencing sequestration efficiency. These experimental findings provide valuable insights into the dynamics of oil–water motion and the potential for enhanced oil recovery (EOR) and CO2 storage, offering essential guidance for optimizing CWI strategies in the petroleum industry.