Because the last i played oblivion was a year ago, and i feel that it might be kinda weird to play the game after forgetting what all my currently installed mods do. Besides, i might decide that i won't need some mods anymore and all that. So im hoping that reinstalling removes all the mods; would this be true?

Thanks!

If you want to make certain you don't have any old files hanging around your hard drive, delete your Data folder manually. Then reinstall. That should do the trick. You might also want to think about making a copy of your "virgin" Data folder after you reinstall. If you ever want to wipe the slate clean again you can just delete the old Data folder and copy the virgin Data folder in, and start over without doing a complete re-install.