The most common and most likely answer to this crossword clue is the 7 letter word ORATING
O
R
A
T
I
N
G
Buddy explains!
The straight part
We know that "making a speech" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case making a speech = orating.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ORATING mean?
ORATING verb- To speak formally; to give a speech.
- To speak passionately; to preach for or against something.