An approach I've seen used is the errosional equation from API-14E, 100 divided by the square root of the density which for most oils gives a maximum velocity in the mid teens (ft/sec). For short term operation, you can use a value 25% higher.
If it's a clean fluid and you aren't close to the vapor pressure, I don't get too concerned about a maximum velocity. When I worked for Aramco we had an East/West pipeline with some pressure reducing valves and the velocity in the piping downstream of these valves were about 25 ft/sec, these areas were monitored but when I talked to the inspections folks, they had not seen a problem.
What usually gets you is the pressure drop especially in a long pipeline. Water hammer becomes another consideration.