Chemical systems cannot oscillate about a position of final equilibrium because such an oscillation would violate the second law of thermodynamics. For a thermodynamic system which is not at equilibrium, this law requires that the system approach equilibrium and not recede from it. For a closed system at constant temperature and pressure, the thermodynamic requirement is that the Gibbs free energy must decrease continuously and not oscillate. However it is possible that the concentrations of some reaction intermediates oscillate, and also that the rate of formation of products oscillates.
Theoretical models of oscillating reactions have been studied by chemists, physicists, and mathematicians. In an oscillating system the energy-releasing reaction can follow at least two different pathways, and the reaction periodically switches from one pathway to another. One of these pathways produces a specific intermediate, while another pathway consumes it. The concentration of this intermediate triggers the switching of pathways. When the concentration of the intermediate is low, the reaction follows the producing pathway, leading then to a relatively high concentration of intermediate. When the concentration of the intermediate is high, the reaction switches to the consuming pathway.
Different theoretical models for this type of reaction have been created, including the Lotka-Volterra model, the Brusselator and the Oregonator. The latter was designed to simulate the Belousov-Zhabotinsky reaction.