After a high octane first half, Nuno Espírito Santo's side took the lead soon after the break, as Wily Boly's header bounced off his hand and into the back of the net, much to the chagrin of the Man City fans who watched on in horror as the referee failed to see the foul.
City hit back soon after, as defender Aymeric Laporte powered home a header from a point point İlkay Gündoğan cross. The visitors looked to push for a winner, but were unable to get past Wolves' rock solid defence, and looked vulnerable to their opposition's counter-attack.
Pep Guardiola's side will be frustrated to have dropped points against the recently promoted side, while Wolves - despite picking up an excellent result - are still looking for their first win after three matches so far this season.
As always, there were a number of big talking points in the game, so here's four things we learned from Saturday's clash.
4. Molineux Is a Tricky Away Day
The atmosphere at Molineux was potent throughout the game, with corners and throw-ins being cheered like a last minute goal by the rampant home supporters.
Clearly, the home fans are having a whale of a time at the moment, as their side have been transformed into a top level side following the influx of exotic new talents.
With the supporters in such fine form, Molineux is going to be a difficult away game for lots of Premier League sides this season, and the electric atmosphere will be a big factor in Wolves picking up important points.
3. İlkay Gündoğan Is an Underrated Gem in the Man City Midfield
It's easy to overlook İlkay Gündoğan in the Manchester City midfield, as the host of tenacious attacking talents ply their trade around him.
But the German international is a vital part of Guardiola's side, and his stats against Wolves prove how important he is.
In Saturday's match, the former Borussia Dortmund man achieved a 96% pass completion rate, made two key passes, and provided a sumptuous assist for his side's goal.
2. Lots of Fans Are Really Missing World Cup Star VAR
Ohhh Willy Boly, you are a lucky man.
Clearly, the Wolves player handled the ball on it's way into the net, as it took a massive deflection into the bottom corner.
VAR had it's critics before the World Cup, but won over a lot of fans by the end of the tournament. Probably because it worked so well in England's favour, it must be said.
City fans will have been agonising over the Premier League's decision not to adopt the review system this season, as it would have really helped them out on this occasion.
1. Pep Guardiola Needs to Stop Rotating His Defence
Now rotation has its place, and it's hard to question the tactical choices of a manager who's side absolutely smashed the Premier League apart last season, but Guardiola's decision to switch up his back line backfired on Saturday.
Kyle Walker came in to replace John Stones for the game, and put in a trademark, solid performance, but captain Vincent Kompany looked lost at times.
Speak to any defender, and they will tell you how important it is to play in the same backline week after week. On this occasion, Guardiola's tinkering proved to be his undoing.