Weight Loss and Acne?

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I have noticed that as I've lost weight, my skin has become more acne prone. I haven't had zits like this since I went through puberty Lol. Also, I have two blackheads right now, and I've never had blackheads on my face before. I used to consider the skin on my face "dry" and put on a moisturizing cream each morning. However, it seems more oily now. Could this be related to my weight loss? or to my exercising? (Note, the skin on my face will be oily even if I have not exercised that day) Could it be related to drinking more water? If anyone else has experienced this or something similar, please share your story/advice with me;)