I think Liverpool had slightly more ball control and played better pressing than Manchester City. For obvious reasons this game took place on the highest level possible, but if you summarize all the stats and facts, Liverpool was a few percentage points better than Manchester City and I think they should have had two penalties instead of one. In the end it was a fair draw and both took the point and it was ok, but you could see that Liverpool was still upset about the final scene when their player was fouled in the Manchester City box. It wouldn't have been a wrong decision if the referee decided to give Liverpool that penalty.
Yes, Liverpool needs to upset because of the disallowed penalty which was clearly a penalty, but just as you say, it is a fair draw and both teams take equal points.
Even Pep said that Liverpool deserve to win, but they tried to get a point because they knew how Anfield was and they knew how strong Liverpool was in the match.
Arsenal should be very careful in their next match against Manchester City because Manchester City might transfer their aggression on Arsenal, and if Arsenal loose that match, their chance of winning the Premier League will reduce, while if they win the match, they will surely have the high chance of winning the League this season.
Recently we have too many decisions which hurt the progress of Liverpool because few weeks back we have same issue and this was also against them which stop them from having few points otherwise for me, they were clearly leading the league table by some narrow margin still this was one of the best performance from the Liverpool with injuries they are doing good job have chance of title which could be good reward for their hard work in this season.
Now, all eyes are on Manchester City vs Arsenal which is going to decide about Gunners can they win the title, or we will have another season without trophy, their performance is surely going to be tested in this important game against best club in Premier League.