"We have repeatedly said that Iran needs to seriously reconsider its approach if it truly wanted to establish good neighborly ties with Arab countries", he stated.
Oil-rich Saudi Arabia has long said it would match any Iranian weapons development, but Jubeir's renewed vow came after U.S. President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.
The Egyptian Foreign Ministry also said Iran must abide by its commitments under the separate nuclear Non-Proliferation Treaty "in a way that will ensure that Iran remains a country free of nuclear weapons". "Saudi Arabia will not in any way act independently of its partners".
On Tuesday, US president Donald Trump said the United States would pull out of the JCOPA, saying that one-sided deal that should have never been made and that it has not, and will never, bring peace.
Saudi Arabia "will work with major producers and consumers within and outside OPEC to limit the impact of any supply shortages", a Saudi energy ministry official said on Wednesday, according to state news agency SPA.
Despite Riyadh's assurances to find a replacement for Iranian oil production, the oil price did not remain stagnant, rising 3.2 percent up to $71.25 (futures for June) per barrel on May 9.
Kuwait said in a statement that it "understands and respects" Trump's decision. Preventing the two countries from having a nuclear-weapon capability and competing in a nuclear arms race is the goal.
Some, however, support Trump's withdrawal from the deal.
However, since Trump's announcement, Iran has threatened to gather uranium if negotations fail in response to the United States withdrawal from the agreement.
"Whether or not (the Iranians) go for a military programme, you're going to get a nuclear race in the Middle East", said Dorsey.
Saudi Arabia has expressed support for the US pulling out of the nuclear deal, saying it did not adequately address Iran's behavior in the region.
In March, Saudi Arabia's crown prince said if Iran gets a nuclear weapon, the kingdom would be compelled to follow suit.
Iran, the third-largest OPEC producer, could deliver involuntary cuts to supply forced by US sanctions and Trump's exit from the nuclear deal - fundamental to the resumption of Iran as a major oil producer and exporter. "The main battlegrounds. Iran does not want to lose are Iraq, Syria and Lebanon and for Saudi Arabia winning in Yemen would be a boon but that's unlikely", she told Fairfax Media.
Riyadh has long accused its regional archfoe Tehran of supplying Yemen's rebels with ballistic missiles, a charge Tehran denies.