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Unfortunately not. The options are: use a screen protector from day one (static cling or tempered glass that cover only the flat portions of the glass, or wet installs like Armor Suit - but good luck getting the corners to stay down, so neither are optimal), or purchase the Apple Watch with sapphire crystal.
 
http://www.ifixyouri.com/blog/how-to-fix-scratched-iphone-screen/
http://gearpatrol.com/2013/11/06/timekeeping-diy-removing-scratches-from-your-sapphire-crystal/

Your Sport glass's oleophobic coating might be scratched instead of the glass itself, too. But yes, it can be buffed out. Doing so will likely remove the coating. I'd be fine with no more coating since none of my other watches have a coating of any kind.

oleophobic coating is to (try to) prevent fingerprints from staying on the screen. how many other watches do you touch?
 
oleophobic coating is to (try to) prevent fingerprints from staying on the screen. how many other watches do you touch?
Good point, although I'm still surprised when I see people complain that their Apple Watch has smudges. ;-p

It's easy enough to wipe them all clean with my shirt anyway. The sapphire crystals on my other watches have all stood up well, so I sprung for sapphire on my AW, too.
 
Highly doubt most scratches are in the coating. Buff all you want, scratches will not be removed from an Apple Watch Sport.
 
And you can grab a kit to re-apply oleophobic coating after buffing if you want... I did that once on an iPhone that had been used for a year or more and seemed to have lost its fingerprint resistance.
 
There are several threads on polishing out scratches on the Sport. A friend of mine has done this several times.

I would not worry about the oleophobic coating, it is not worth replacing
 
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