Of course. It will have a very tangible and noticeable effect. The Energy Resources of the Soul must be restored, also through sleep. If you constantly have a low value of Energy, you will not be able to use it effectively during Meditations, also your Psychic Sensitivity may become dull. Not to mention the Rituals, because during the Rituals you give a part of your Energy for the Realization of the Ritual Program itself. Also the effectiveness of Magic will be very insignificant.
Subsequently, if you regularly deplete your Energy Resources, destructive Spiritual Processes from the 4th Dimension will affect your Body and you will have Physiological Problems. Influencing your Body, you Influence your Soul, but also, Influencing your Soul, you Influence your Body. These are interconnected Spheres. Influence yourself Beneficially. Do not deplete yourself
Keep the Energies High, your Soul must be Vibrating on the Highest Levels. Your Body needs to rest and your Soul needs to replenish its Energies.