Oily skin question???

Is it possible for your skin to become extremely oily due to a lack of moisture? I use neutrogena acne wash and it makes my skin very dry. I was wondering if it is possible that my skin is oily in response to being dried out. My skin is so oily that I have to blot within 2 hours of washing my face. I read that your skin is only oily because it needs to be, is that true?