Windows explorer thinks that the exported .ogg files are at 1411 kbps, when they are actually at 320 kbps

[HenriHawk42]

I'm using the default configuration, and I have the output format set to "Original OGG", thinking this would give me the highest quality. It seems it did, and when running the exported track through Spek, it shows that the track is 320kbps.

This is fine, but I fear the file may be much larger than it needs to be as a result. I'm a noob to audio stuff (like encoding) so bear with me, but I'm wondering if I can get the file any smaller (like bumping it down to 320kbps from 1411kbps) while keeping (even though the bitrate is technically at 320kbps) the maximum quality.

Or, is this already the smallest the file can be at the given audio quality of 320kbps, and windows explorer is just being weird?