Yes. It's critical to refrigerate wine after you open it. When you re-cork a bottle and refrigerate it properly, you limit the exposure of oxygen to the wine. By doing so, you delay the spoilage process and ensure your wine lasts longer (at most a week).
How do you store wine after opening?
Store wine in a cold, dark place. Place your open, re-corked bottles in the refrigerator (or a dedicated wine fridge if you have one). If you don't like the taste of cold red wine, remove the wine bottle from the fridge about one hour before serving. It will be back to room temperature by the time you pour it.
How long does wine last once opened?
between three and five days
What happens if you don't refrigerate wine after opening?
After you open a bottle of wine, you expose it to oxygen. Some wines will become more expressive with that initial exposure, but after a while, all wines will fade. Oxygen will eventually cause any fresh fruit flavors to disappear and aromatics to flatten out.