To accurately study the multiphase production dynamics in shale reservoirs with highly developed beddings, a tri-phase (oil-gas-water) production flow mathematical model considering the interaction between opened beddings and shale matrix was firstly established. A dynamic drainage area (DDA) concept was introduced to solve the model, and the dynamic changes of the length and aperture of opened beddings were accounted. Based on the model, a production dynamic interpretation method was developed in combination with the straight-line analysis (SLA) and automatic history matching (AHM) methods. In a case study, the key flow parameters of a producing well in a typical shale oil block were interpreted using the new method presented in this paper, and the well 's production capacity was predicted. The results indicate that the closure of opened beddings in the length direction mainly affects the size of the matrix controlled by the opened beddings and has a significant impact on the peak production and gas production rate. Meanwhile, the closure in the aperture direction of opened beddings affects the peak production and decline rate of the oil-gas phases. The both closure mechanisms must be considered simultaneously in order to more realistically simulate the post-fracturing production process of shale oil.