Recent analyses of solar photospheric abundances suggest that the oxygen abundance in the solar atmosphere needs to be revised downward. In this study, we investigate the consequence of this revision on helioseismic analyses of the depth of the solar convection zone and the helium abundance in the solar envelope and find no significant effect. We also find that the revised abundances along with the current OPAL opacity tables are not consistent with seismic data. A significant upward revision of the opacity tables is required to make solar models with lower oxygen abundance consistent with seismic observations.