The invention discloses a medium-low intensity oil casing for resisting hydrogen sulfide corrosion and a method for manufacturing the same. The oil casing comprises the following composition in weight percentage: 0.26 to 0.32 percent of C, 0.10 to 0.40 percent of Si, 0.80 to 1.50 percent of Mn, less than or equal to 0.015 percent of P, less than or equal to 0.005 percent of S, less than or equal to 0.20 percent of Mo, less than or equal to 0.30 percent of Cr, less than or equal to 0.30 percent of Cu, less than or equal to 0.30 percent of Ni, less than or equal to 0.020 percent of Al, and the balance being iron. The method comprises the following steps: molten iron and scrap steel undergoes smelting, external refining and vacuum degassing, and curved continuous casting to prepare a pipe blank; the pipe blank undergoes hot-rolling to prepare a light pipe; and the light pipe undergoes normalizing treatment to obtain the oil casting. The medium-low intensity oil casing has good physical and chemical properties; the indexes thereof achieve or exceed the API standard; the stress threshold value of hydrogen sulfide resistance reaches 80 percent of SMYS; and the values of the crack sensitive rate, the crack length rate, and the crack width rate of the hydrogen induced cracking resisting properties are 0.005 percent, 2.8 percent and 0.09 percent respectively, thus the medium-low intensity oil casing can be applied to oil-gas fields containing hydrogen sulfide.