''The Economist'' reported in 2008 that diamonds and oil make up 60% of Angola's economy, almost all of the country's revenue and all of its dominant exports. Growth is almost entirely driven by rising oil production which surpassed  in late 2005 and was expected to grow to  by 2007. Control of the oil industry is consolidated in Sonangol Group, a conglomerate owned by the Angolan government. In December 2006, Angola was admitted as a member of OPEC.