I had to look at some VBA examples to get this working. Although I hate answering my own questions, I am leaving this here for people who might need it.
import win32com.client as win32
wb = excel.Workbooks.Open(excel_file)
selection = "A1:J30"
xl_range = wb.Sheets(<sheet_name>).Range(selection)
excel.ActiveWorkbook.Sheets.Add( After=excel.ActiveWorkbook.Sheets(3)).Name="image_sheet"
cht = excel.ActiveSheet.ChartObjects().Add(0,0,
xl_range.Width, xl_range.Height)
xl_range.CopyPicture()
# add the chart to new sheet
cht.Chart.Paste()
# Export the sheet with the chart to a new file
cht.Chart.Export(<image_filename>)
# Delete the sheet
cht.Delete()
excel.ActiveSheet.Delete()
# Close the book
excel.ActiveWorkbook.Close()