RIYADH, May 9 (Xinhua) -- Saudi Arabia announced on Wednesday commitment to the stability of oil market, Saudi Press Agency reported.

An official spokesman of the Ministry of Energy, Industry and Mineral Resources, assured that the kingdom remains committed to supporting the stability of oil market for the benefit of producers and consumers and sustainable growth in the global economy.

The statement was made following the U.S. decision to withdraw from the nuclear deal with Iran.

He added that the kingdom would work with major producers within and outside OPEC as well as major consumers to mitigate the impact of any potential supply shortages.

Saudi Arabia stressed on Tuesday that it would cooperate with the U.S. and other world partners to tackle the threats of the Iranian policies on international security and peace.

The U.S. President Donald Trump announced Tuesday Washington will pull out of the landmark nuclear accord with Iran.