I am not aware of standards specifically requiring water mains to be laid to a specific slope or grade, and I agree with one or more posters that such mains in profile view most generally follow the "lay of the land". It is however true that some air will probably accumulate in any high points of lines as claimed by another, I would think particularly if the lines have been filled very slowly and/or there is no flow. While whatever degree of accumulated air in new lines may or may not not cause practical problems in tests or service (I have heard many over the years say that at least large quantities of air at obvious high points have caused some problems), I think many testing standards do require that as much air as practical (for many reasons, I suspect including safety, and that some large air pockets might "air lock" future flow in some circumstances?) be removed from the installed pipeline prior to test. It would appear that laying pipes very carefully on a specific grade might help to make this most efficient, though perhaps in some areas at some additional construction cost when specified?
On the other hand, I have also heard that once water pipelines are placed in service, there may also be some significant abilities of ensuing flow, at least under some conditions, to "scavenge" at least some quantities of accumulated air from some high points, so same does not cause any practical problem even if there is no air valve (or air valve "working") there.
I think there have been a few technical papers written on air effects and removal from pipelines, including some from folks who market air valves; however, I have also heard that some air valves can malfunction and/or be concerns as future contamination points.
I guess exactly where all these lines should be drawn so to speak, with all issues considered, is the province of responsible engineers.