Yes, but...
Assuming it's a gas torch like the UK ones were, the exhaust will be blown away by the fresh fuel although this would still make for inferior combustion in an enclosed space.
In space you'd just need an oxygen source to go with it and the momentum of the gasses coming out of the nozzles, combined with the near absence of owt to stop it (unless the cosmonaut decides to peer down it to see if it's lit...) would carry the burning gasses and exhaust away. The hard bit would be maintaining the region of combustion at a high enough temperature and pressure to keep it lit. Maybe an open topped glass enclosure to contain the gasses for long enough to burn them, like a hurricane lamp, would do it.