Not directly, but I can think of a few indirect reasons. No pinging means the PCM can advance the timing, producing more power for a give throttle setting, less PCV air flow, lower ingestion of oil mist.
On the other hand, oil consumption very definitely CAUSES pinging very often. Oil mist in the air/fuel charge ignites more easily than gasoline vapor (counter-intuitive, but true- oil has a lower effective octane rating than gasoline)) so an oil-burning engine is more prone to detonation than one that doesn't burn oil.