Yes. It is simple math. It might not always pan out like this, but overtime it works out this way. Mathematically speaking, you can start with extreme cases. A team that produced 162 runs and allowed 62 runs will likely outperform a team that produced 1000 runs and allowed 900 runs. As a a matter of fact, the former team can only lose 62 games in the worst case scenario.
For actual real-life data, you can check expected W-L records in MLB standings for teams with similar run diff but different runs allowed.