China and India are buying more crude oil, providing some respite for producers facing expectations of oversupply, Bloomberg reported today, citing unnamed trading sources. The two large importers have been buying mostly Middle Eastern cargos, the Bloomberg sources said, noting that these were being sold at a discount, with China the bigger buyer and India raising its purchases since the start of the month only marginally. Purchases so far in November featured more Upper Zakum grade shipments and additional volumes of Kuwaiti crude, the publication…