Yes. Teams get coefficient points for wins (and draws) and general progression through UEFA competitions. At the end of the season they'll total up the amount of points earned by PL teams and then divide it by the number of PL teams in Europe this season to give an average. The two leagues that have the highest average get an extra CL spot next season.
As things stand (iirc) Italy currently lead the way with it very close between the PL and Bundesliga for 2nd however as there are now just 3 German teams left in Europe compared to the PL's 5, the Bundesliga's average is going to drop quicker than the PL's. Barring disaster for the remaining PL sides it's hugely likely that the PL will finish in the top 2. In fact they'll very likely finish 1st as Italy only has 4 sides left in Europe and 2 of those are playing each other which means the absolute maximum they'll have in the next round will be 3.
Arsenal - Bayern and West Ham - Leverkusen are the two big ties. PL wins both and it's all but certain that we'll have 5 CL spots next season, PL win 1 of 2 and it's extremely likely but not certain, lose both and it becomes close but PL are still favourites.
edit: you can track the average number of points each League has
here.
As above the PL are fractionally behind Germany right now but because of the number of sides we have left in Europe compared to them, that should change quite a bit in our favour moving forwards.
