The Reds have been notoriously strong against their top six rivals under Jurgen Klopp but were forced to settle for a point when the two sides last met in March.
Predictably, with both sides open at the back but electric going forward, it was a breathless, end-to-end clash.
After a goalless first half, Liverpool won a controversial penalty when Gael Clichy was penalised for a high foot, and James Milner duly stepped up to put his side in front.
City then piled on the pressure and finally broke the visitors’ shaky resistance with twenty minutes remaining as Sergio Aguero converted Kevin de Bruyne’s cross.
Both sides, though, would be left questioning how they did not come away with all three points.
Aguero may have netted the equaliser, but he then fluffed a pair of golden opportunities, while De Bruyne struck the post.
Yet there was a contender for miss of the season at the other end as Adam Lallana inexplicably failed to tap the ball home following Roberto Firmino’s pass.
For Liverpool, there was much to be learned. Manchester City’s array of attacking talent proved almost too hot to handle as they carved out chance after chance.
Both De Bruyne and Silva were allowed the space to work their magic, and the Reds were fortunate the usually clinical Aguero was missing his shooting boots.
Containing City’s creative influences, both those in central roles and on the flanks, will be crucial if Klopp’s men are to come away with three points on Saturday.
Yet they can also take encouragement from the potency of their counter-attacks. Should the home side put even a foot wrong in the middle of the park, they will be punished.
It could have easily have been three goals apiece back in March, and Saturday’s game promises to be a goal-fest as the league’s two most dangerous sides do battle.
That is, of course, if both teams remember how to finish.