Don't you understand bitrate?
And ogg is a container format, what you are talking about is vorbis, the audio format that is always found inside an ogg container.
A 320kb/s vorbis file will be larger than a 128kb/s MP3 of the same length.
Vorbis is a more advanced audio compression format than MP3, meaning for a given filesize / bitrate, vorbis will achieve better quality. A 44.1Khz Stereo MP3 at 64kb/s will sound like shit, but vorbis can more efficiently represent the audio with this low bitrate.
Vorbis and MP3 are lossy audio formats, which means that they remove information in their representation of the source audio. As MP3 and Vorbis work differently, converting from one lossy format to another is not recommended at all, as the resulting file will have lost data from both algorithms.
tl;dr, bitrate defines how large a resulting file will be for a given length.