Bharat Petroleum Corporation Limited (BPCL), one of the biggest Indian state-owned refiners, has bought 1 million barrels of U.S. West Texas Intermediate crude, trade sources told Reuters on Tuesday, as India looks to procure cheaper cargoes amid freight rates easing from the record highs hit in early October. BPCL has bought the cargo for delivery at Mumbai in late December-early January, paying a premium of some $18 per barrel over Dated Brent, according to Reuters' sources. Last week, BPCL said it would reduce its purchases of crude oil from…