<p>In order to deeply study the crack propagation law in the fracturing process of shale reservoirs and its influence on the stress and displacement fields near the wellbore, a numerical model of globally embedded zero-thickness Cohesive element is constructed in this paper, and the in-situ stress field and seepage field are coupled. By self-evolving complex fracture paths, the model can more truly reflect the mechanism of horizontal in-situ stress difference, formation elastic modulus and injection flow on complex fracture propagation. The results show that the complex fracture network formed by volume fracturing makes the reservoir stress and displacement field highly non-uniformly distributed, especially in the near-wellbore area. The ‘ stress deficit ‘ and the uneven propagation of fractures lead to inconsistent weakening of the axial and radial constraints of the far wellbore to the near wellbore, resulting in non-uniform stress and displacement responses. The influence degree of horizontal ground stress difference, formation elastic modulus and injection flow on Mises stress and formation displacement is as follows: injection flow is dominant, formation elastic modulus is second, and horizontal ground stress difference is the weakest. The specific performance is that the formation displacement increases with the increase of horizontal stress difference, decreases with the decrease of formation elastic modulus, and increases significantly with the increase of injection flow rate.</p>