Carbon dioxide flooding has been proven to be one of the most effective and viable enhanced oil recovery (EOR) processes for light and medium oil reservoirs. In the past, an extremely large number of laboratory experiments and numerical simulations have been conducted to study the CO2 EOR process. However, the specific effects of viscous and capillary forces on this tertiary oil recovery process are neither thoroughly studied nor well understood yet. In this paper, an experimental study is carried out to examine the detailed effects of viscous and capillary forces on the CO2 EOR under the actual reservoir conditions. First, the equilibrium interfacial tensions between a light crude oil and CO2 are measured at different equilibrium pressures. Second, a series Of CO2 coreflood tests are performed to measure the CO2 EOR at different CO2 injection pore volumes, pressures, and rates. Each CO2 coreflood test is terminated after a total of 1.5 pore volume Of CO2 is injected. The detailed experimental results show that, in general, the measured equilibrium interfacial tension is reduced with the equilibrium pressure but the measured CO2 EOR at 1.5 pore volume Of CO2 is increased with the CO2 injection pressure and rate. Finally, the measured CO2 EOR at 1.5 pore volume versus injection pressure data at different CO2 injection rates are related to the measured equilibrium interfacial tension versus equilibrium pressure data in terms of the complete capillary number, which is defined as the ratio of the viscous force to the capillary force for each CO2 coreflood test. This study shows that if the complete capillary number is in an intermediate range, the CO2 EOR increases quickly with the complete capillary number. Otherwise, the CO2 EOR is lower and remains almost constant for a smaller complete capillary number, or it is higher and remains unchanged for a larger complete capillary number.