Espanyol took advantage of Jose Mourinho resting a host of first team players in the first half ahead of Real's Copa del Rey final with Atletico Madrid on Friday.
And they deservedly went in front through Christian Stuani on 22 minutes yesterday.
However, after the introduction of Cristiano Ronaldo in the second-half, Madrid rallied and were level when Gonzalo Higuain flicked home Luka Modric's free-kick just before the hour mark.
But Los Blancos couldn't find the winner they needed to keep the title race alive as the point leaves them seven adrift of Barca with just two games remaining.
"The league is a tournament of consistency and we had a very bad start that didn't allow us to compete until the end.
"Right now the objective of Real Madrid is the cup. We want to fight for this title because we have a great desire to lift it in our stadium."
Barca, who face Atletico Madrid on Sunday, could match Real's league record total of 100 points from last year if they win their remaining four games.
An incredible first-half to the season, in which the Catalans dropped only two from a possible 57 points, was the key as Barca virtually guaranteed the title in Tito Vilanova's first season in charge.
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